Dubai's Meydan relaunches $1.25bn grandstand

BACK TRACK: Malaysia's WCT Bhd & Dubai's Arabtec are seeking minimum $460m compensation after their contracts to build racecourse were cancelled. (Getty Images- for illustrative purposes only)

Dubai's Meydan has relaunched work on a $1.25bn grandstand at a race course, appointing new contractors for the project which had been cancelled in January, a magazine reported.

Work has restarted Nad Al Sheba grandstand after Meydan appointed China State Construction Engineering Corporation and Dubai's Mammut Building Systems to complete the project, London-based MEED said.

Malaysian engineering firm WCT Bhd and Dubai's Arabtec Holding are seeking at least $460m in compensation after their contracts to build the racecourse were cancelled.

Both firms are initiating a civil suit and arbitration proceedings against the developer over an alleged breach on contract for cancelling the deal.

A spokesman for Meydan was not immediately available for comment. (Reuters)

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