Tuesday 21 February 2017
 
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Arabtec eyes $408m rights issue as 2016 loss widens

Arabtec Holding, a leading construction company in the Middle East, is planning to raise Dh1.5 billion ($408 million) from a rights issue after posting a second yearly loss in 2016, according to a report. This has widened to Dh3.4

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Carillion wins deal to build Bee’ah Sharjah HQ

British contractor Carillion said it has collaborated with UK-based Zaha Hadid Architects to win a major contract from Bee’ah, a leading UAE-based environmental management company, to build its new headquarters in Sharjah. T

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Mazoon Dairy selects contractor for site enabling works

Oman-based Mazoon Dairy Company has selected Abu Hatim Co, one of the sultanate’s leading construction and engineering companies, as the contractor for its site enabling works, said a report. A formal agreement will be signe

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ACC wins top ranking for tall building construction

Arabian Construction Company (ACC), a leading player in the Middle East and North Africa (Mena) region, said it has been ranked second in the list of world’s top contractors for the tallest buildings by the Council on Tall Buildings and Ur

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UAE contractor signs Aconex enterprise agreement

Aconex, a global leader of digital innovation in construction, said leading UAE contractor Alec has agreed to standardise on Aconex solutions for managing information and processes across all of its projects. Alec, which began ope

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Al Jaber to sell contractor, leverage hotel in debt plan

Abu Dhabi's Al Jaber Group plans to raise up to Dh2.35 billion ($640 million) by the end of 2017 by selling its stake in a construction company and using a prime hotel in the emirate as collateral for a loan, informed sources said.

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Al Jaber to sell contractor, leverage hotel in debt plan

Abu Dhabi's Al Jaber Group plans to raise up to Dh2.35 billion ($640 million) by the end of 2017 by selling its stake in a construction company and using a prime hotel in the emirate as collateral for a loan, informed sources said.

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Arabtec hires AlixPartners for business review

Loss-making Dubai contractor Arabtec's board has hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform its business, three sources aware of the matter told Reuters on Sunday. Amo

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Arabtec may break even in 2016, profit seen in 2017

Loss-making Dubai contractor Arabtec may break even in 2016 and should return to profit the following year, the company's chairman said on Wednesday. Arabtec made a loss of Dh2.35 billion ($639.9 million) in 2015, which it bla

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Drake & Scull Q4 net profit jumps

Drake & Scull International, a regional market leader in general contracting and mechanical, electrical and plumbing (MEP) sector, has posted a substantial jump in its fourth-quarter net profit, with the contractor's earnings aided by hi

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