Who are Arabtec shareholders?
Who are Arabtec shareholders?
Shareholders, including Abu Dhabi state fund Mubadala Investment Co, voted in September to liquidate Arabtec after losses deepened due to the coronavirus crisis. Arabtec’s move to liquidate followed a first half loss of $216.18 million and total accumulated losses of nearly $400 million.
What happened to Arabtec?
Arabtec Holding, the UAE’s biggest listed construction company, will be placed into liquidation due to its “untenable financial situation,” the company said on Thursday. The company will now be liquidated through a “controlled and efficient programme” to maximise value for stakeholders, he added.
Who is the founder of Arabtec?
Riad Kamal
Arabtec Holding PJSC/Founders
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.
How many employees does arabtec have?
Arabtec Holding PJSC
| Type | Public company |
|---|---|
| Total assets | 12.59 billion AED (2012) |
| Number of employees | 42,000 |
| Parent | Mubadala |
| Website | arabtecholding.com |
Who owns most apartments in Burj Khalifa?
businessman George V. Nereaparambil
Well believe it. Indian businessman George V. Nereaparambil is the very man who owns more than his fair share of the 900 apartments in the Burj Khalifa. Do you have a good success story happening in the UAE to share?
Who is Burj Khalifa owner?
Emaar Properties
Burj Khalifa/Owners
Emaar Properties PJSC is the Master Developer of Burj Khalifa and is also one of the largest real estate companies in the world. Mr. Mohamed Alabbar, Chairman of Emaar Properties, said: “Burj Khalifa goes beyond its imposing physical specifications.
What has happened to Arabtec shares?
Shares of Arabtec Holding, which helped build the Louvre Abu Dhabi and the world’s tallest skyscraper, the Burj Khalifa in Dubai, had more than halved in value this year when they were suspended pending the shareholder meeting.
What does Arabtec do?
Arabtec Holding PJSC is a United Arab Emirates-based company engaged, along with its subsidiaries, in the construction sector.
Who will be Arabtec’s new liquidator?
Shareholders also authorised Arabtec to appoint AlixPartners and Matthew Wilde, or any other person or persons the board considered fit, as liquidator, two sources told the Reuters news agency.
