A royal decree last May ordered the liquidation of the firm, which never launched services despite making a winning SAR1 billion bid for a fixed telecom licence in 2007.
The fashion retailer is planning to expand across locations in the Middle East, Eastern Europe and Central and Southern Asia.
Arabtec is trying to evolve from a local contractor into a multinational development company as its finances are boosted by a recovery in Dubai’s property market.
Additions include a tunnel under the southern runway, nine new aircraft stands and an automated passenger mobility system.
Burdett joins from Australia and New Zealand Banking Group, where he was finance head of its international and institutional banking business.
The former monopoly made a net profit of 14.5 million dinars ($38.46 million) in the three months to March 31.
The company had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.
The new subsidiary specialises in the training of Emiratis across a variety of sectors.
Its total assets grew to Dhs251.2 billion at the end of 2013, up from Dhs239.3 billion on December 31, 2012.
Sources have said that Etihad could invest 500 million euros in return for a 49 per cent stake, but talks reached a stalemate this month when Alitalia raised concerns over the deal conditions.
The contractor has won a series of deals in the region recently, including the development of Abu Dhabi’s main airport and the building of a Louvre Museum.
Heritage said that it was recommending a 320 pence per share cash offer, which represented a 25 per cent premium to its closing price the day before the approach was announced.
Guest numbers in the emirate’s hotels and hotel apartments soared 32 per cent in Q1 2014, authorities say.
The newly launched airport is expected to see a surge in traffic as Dubai International closes for a runway upgrade.
Facilities under development include The Butterfly, DuBiotech’s headquarters, the Makateb development and the Publishing Pavilion.
Wire World is set to cover 25,000 square feet and will be located adjacent to Meydan Racecourse.
The developer said its profit for the three months to March 31 was 265.1 million riyals ($72.8 million), up from 158.5 million riyals in the same period of 2013.
Second citizenship expert says he has seen a significant jump in interest from Russian millionaires in the last month.
Ten airlines are now operating out of the $17 billion facility and all others will switch by May 27
The firm made a net profit of 8.8 million rials ($22.86 million) in the three months to March 31, a statement said.
The April survey marks the first time since last September that the ratio of managers who are bearish on UAE equities exceeds the ratio of bullish ones.
The Russian Direct Investment Fund (RDIF) said it had signed a deal with Bahraini sovereign wealth fund to identify and work together on investment opportunities in their countries.
Bahrain’s official news agency did not name the five but said they had confessed to the plot.
The transaction was formally launched to price at 115 basis points over midswaps, a document from the lead banks said.
Around $27 billion will be injected into the Gulf economy through defence deals by 2020, new research says.
Dubai carrier targets premium business traffic to and from the EU capital
High demand for the offering has helped MAF reduce the prospective cost of its borrowing.
The project was designed by award-winning architects Rafael Vinolycovers and developed by state-owned investment company Mubadala.
Cyber security company Secunia found that 17.4 per cent of users had unpatched versions of WinXP, Win7, Win8 or Windows Vista.
NBAD, 70 per cent owned by the Abu Dhabi government, has been realigning its business under new chief executive Alex Thursby, who took charge last summer.