Arabtec receives first Nakheel payment
By Tracey Scott on Jun 20, 2010
Arabtec has received the first payment of AED500,000 from Nakheel. The payment comes after the firm said earlier this month that it has started paying creditors
Arabtec has received the first payment of AED500,000 from Nakheel. The payment comes after the firm said earlier this month that it has started paying creditors
Arabtec Holding’s finance chief said on Thursday that the oil and gas producing countries of Saudi Arabia, Qatar and Abu Dhabi offered the best opportunities for GCC contractors.
The company may have endured a difficult 2009, but it’s business as usual for Arabtec.
Construction company Arabtec refuses to resume work on a residential property development until Nakheel pays its bills.