Firm's chief exec Tom Barry says balance will be paid against a bond - paper.
Arabtec Construction, a unit of Dubai-based Arabtec Holding will be repaid 40 percent of its outstanding dues in April by developer Nakheel, a local daily reported, citing the unit's chief executive.
The balance outstanding will be paid against a bond, chief executive Tom Barry told Emirates Business 24/7 newspaper. The company also expects to begin work on the Al Furjan project, Barry said.
Last week, Arabtec and Aabar Investments called off their $1.7 billion merger agreement, with analysts saying Arabtec no longer needed the deal.
Arabtec shares were up 1.6 percent in Dubai trading.
Nakheel aims to pay about $8.2 billion to its creditors in June, but needs approval for its March debt proposal before making the payment. (Reuters)