Real estate related news and press releases covering MENA region.
Arabtec profits beat estimates, profits tip $23m
May 10, 2012
The largest builder in the UAE by market value, Arabtec Holding Co has said announced its first-quarter profit climbed to surged to Dhs84m ($23m) from Dhs26.6m a year earlier, Bloomberg has reported. The company also said the board has appointed Khadem Al Qubaisi as chairman, and CEO Riad Kamal as vice chairman. Al Qubaisi is also the chairman of Abu Dhabi government-controlled Aabar Investments, which through its units, holds 10.5% of Arabtec.