Dubai-based developer Meydan Group announced two projects during the first day of Cityscape. The company behind the world’s largest horse-racing complex launched its Hadaeq Sheikh Mohammed Bin Rashid project, a new 190,000 sq m housing scheme in Dubai’s Nad Al Sheba. The ‘green’ project will feature canals, lagoons, horse riding trails and resemble gardens in Europe. The group also re-launched its stalled Meydan Tower scheme, a 72-storey tower it originally proposed in 2009.
Dubai’s largest listed contractor, Arabtec, has been on shaky foundations for the past two years, recording losses for six consecutive quarters. But Raja Hani Ghanma, CEO of its construction subsidiary, explains how the company is gradually building back up to profit.