Additional transparency and accountability as a result of these changes will bolster construction whilst ensuring that the emirate is in line with a sustainable growth model, experts told Arabian Business
restructuring plan
Latest in restructuring plan
Crown Prince of Dubai
Sheikh Hamdan reviews plans to boost Dubai real estate, create private sector deals worth $2.72bn per year
The comprehensive restructuring plans for the Dubai Land Department and Dubai Municipality aim to improve operational efficiencies, promote public-private partnerships, ensure sustainable development, and maximise the emirate’s economic, tourism, and commercial potential
financial distress
Bahrain’s GARMCO reaches creditor agreement to continue operations
Gulf Aluminium Rolling Mill is one of first companies to benefit under Bahrain’s new bankruptcy laws
Drake & Scull International
Dubai’s Drake & Scull reports nine-month profit of $15.8m
Contracting major, which is reaching the end of its financial restructuring, saw revenues drop to $30.2m
Drake & Scull International
Dubai’s Drake & Scull eyes restructuring plan approval ‘in the coming weeks’
Troubled company reveals a net profit of $21.2m in latest financial results for first six months of 2021
Drake & Scull International
Creditors of Dubai’s Drake & Scull set to vote on restructuring plan by end of April
Contracting major holds meetings with creditors to present its plan for the future
Drake & Scull International
Dubai’s Drake & Scull says it’s business as usual despite restructuring
Troubled contractor invites creditors to meeting next month when restructuring plan will be voted on
Abraaj downfall
Abraaj scandal: the world’s largest private equity insolvency
Liquidators overseeing Abraaj Group’s insolvency now estimate chief executive officer Arif Naqvi’s alleged theft to have cost the firm $385 million, an amount significantly more than what prosecutors claimed.
Abu Dhabi International Airport
Etihad Aviation Group hires former ADIA exec as CFO
Andrew Macfarlane becomes chief financial officer as the state-owned carrier pushes ahead with a restructuring plan
Drake & Scull International
Drake & Scull: audit committee ‘part of restructuring plan’
The ESCA is investigating reasons behind DSI’s floundering financial position and accumulated losses
Arabtec
Dubai’s Arabtec hires US firm to advise on new restructuring plan
Arabtec confirms that it has hired New York-based investment bank Moelis & Co to advise on a new restructuring plan