Why is Arabtec closed?

Why is Arabtec closed?

“The highest price at which Arabtec ever traded was Dh30. 05 – in May 2014 – while the lowest price was Dh0. 44 in March 2020. Deteriorating economic conditions triggered by the coronavirus pandemic, property oversupply and weak growth prospects contributed to its demise, along with corporate governance lapses.”

What will happen to Arabtec shareholders?

Arabtec’s board of directors said that shareholders will be invited to attend a general assembly meeting on November 30. On September 30, Arabtec shareholders voted to discontinue with the company and dissolve it due to its untenable financial situation.

Who bought Arabtec?

Arabtec Holding PJSC

Type Public company
Total assets 12.59 billion AED (2012)
Number of employees 42,000
Parent Mubadala
Website arabtecholding.com

Who is the CEO of Arabtec?

Raja Hani Ghanma (Mar 31, 2015–)Arabtec Holding PJSC / CEO

Why did arabtec fail?

In August, the company reported a net loss of $216.2m (AED794m) in the six-month period ending 30 June, 2020, due to ‘limited liquidity’ in the real estate and construction sector. The company, at that time, had directly attributed the loss to the group’s construction business, under the name Arabtec Construction.

Who manufactures Burj Khalifa?

Standing at a height of 828m Burj Khalifa in Dubai is, by a considerable margin, the tallest structure ever made by man. Built by Emaar Properties, the completed structure contains an Armani hotel and 900 residences.

Who builds Dubai?


Dubai دبي
Founded by Ubaid bin Saeed and Maktum bin Butti Al Maktoum
Subdivisions show Towns & villages
• Type Absolute monarchy

Who is Dubai king?

Sheikh Mohammed ibn Rashid Al Maktoum
Sheikh Mohammed ibn Rashid Al Maktoum, also spelled Muḥammad ibn Rāshid Āl Maktūm, (born July 15, 1949, Dubai, United Arab Emirates), vice president (2006– ) and prime minister (2006– ) of the United Arab Emirates and emir of Dubai constituent emirate (2006– ).

Who is Prince of Dubai?

Sheikh Hamdan bin Mohammed became Crown Prince of Dubai on February 1, 2008. February 1 marks the anniversary of Sheikh Hamdan bin Mohammed becoming Crown Prince of Dubai.

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