Arabtec CEO admits supervision in share sale

ArabtecUAE engineer Arabtec's chief executive expressed on Wednesday the operating outlaw forced on him by the nation's watchdog was because of his supervision in promoting shares preceding to the declaration of projects. On Wednesday, Riad Kamal expressed to Reuters he compliments the watchdog's move.

Dubai outworkers prepared to attain immense with Qatar World Cup

ArabtecEquities of construction groups in the area have been growing considerably from the time when Qatar succeeded the offer to host the 2022 Fifa World Cup. Arabtec’s equities climbed up by 9.14 per cent in the day and stopped up at Dh2.03.

One more main contractor Drake & Scull mounted up by 6.47 per cent by the similar time.

Arabtec cancels plan to sell stake to Aabar

Arabtec cancels plan to sell stake to AabarThe Khaleej Times reported that construction giant Arabtec has put off its plan to sell a controlling stake worth US$1.7 billion to Aabar Investments of Abu Dhabi.

It is reported that UAE's largest construction firm, which apparently had a liability worth $680 million owed by developers, stated that it was calling off the move that would have given the Abu Dhabi's state-run fund a 70 per cent stake.

$227 Million Worth of Abu Dhabi Contracts Won By Arabtec Unit

Arabtec The United Arab Emirates’ major construction firm, Arabtec Holding PJSC has won two contracts in Abu Dhabi valued a shared 835 million Dirham and first round agreement for a 524 million dirham bureau project in Qatar.

Arabtec Now Revealed to Hold at Deutsche Bank

Arabtec Holding PJSC, the largest construction company in United Arab Emirates, was lowered to “hold” from “buy” by Deutsche Bank AG relating to its expansion plans outside Dubai and a weak orderbook.

The company’s share price estimate was reduced 20 percent to touch 2.4 dirhams ($0.65), Deutsche Bank revealed in an e-mailed note to clients today.

Arabtec Extends Due Diligence Date

Arabtec-AabarThe due diligence date for $1.7-billion merger of Dubai based Arabtec with Abu Dhabi-based Aabar Investments had been extended to April 16. The proposed stake sale would be discussed at the meeting of the Arabtec's board of directors besides reviewing the financial results of the company.