UAE: Arabtec goes into liquidation

Issue 1111 - 01 Oct 2020

Arabtec Holding, an iconic name in Dubai’s construction industry, is to file for liquidation following a shareholder vote at its annual general meeting on 30 September. The company was responsible for landmarks such as the Burj Khalifa and Louvre Abu Dhabi. However, it lost Dh848.7m ($231m) last year and warned that its ability to continue as a going concern was at risk.

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