ArabianBusiness.com - Middle East Business News
Friday, 27 November 2009 00:31 UAE time

YOUR DIRECTORY /

| Share |

Dubai's Meydan relaunches $1.25bn grandstand

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 15 March 2009
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.

Story continues below
advertisement

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)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

RELATED LINKS

  1. Meydan»

 EMAIL ALERTS

  1. Meydan

  2. Construction & Industry


Tell us your story

READER COMMENTS

  1. Deal sought on Dubai World, Nakheel debts 20
    26 Nov ' 09 at 20:13
    Red Devil/Sandjocky, I have also had several posts blocked over the past couple of days, posts that speak of the facts only as they...   More  »
  2. UAE real estate market has now hit bottom - analysts 05
    26 Nov ' 09 at 21:36
    Comn' AB is a yo-yo when it comes to news.People forecasting good and then bad. Good and bad and then some more "experts" saying...   More  »
  3. Moody's cuts Dubai GRI ratings amid debt delay 02
    26 Nov ' 09 at 19:51
    Dubai World better change its slogan & reposition itself - Dubai LTD.   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM