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financials

Arabtec records $104m net loss for 9M 2019 amid handover delays
CEO Peter Pollard shows disappointment in group's performance and says legacy projects to be handedover
Dana Gas reports 246% spike in 9M YoY net profit ending Sep 2019
Revenues grew by 2% to reach $357m for nine months ending on 30 September 2019
Damac's YoY net profit for 9 months ending September 2019 drops 99%
Revenues for nine months also noted a 46% YoY drop to $762m as the developer
Aldar's Q3 2019 profit falls by 8% YoY despite 12% spike in revenue
Profits were affected by higher non-recurring income in 2018 incurred on government payments for completed
Cabinet's $16.7bn budget for 2020 is largest since UAE's establishment
Around 31% of the zero-deficit federal budget is allocated to social development, and $490m is
Alba's profit drops 25% YoY to $28.5m in Q3 2019
Profits and total comprehensive income fell to $28.5m (BD10.7m) in Q3 2019, compared to $38.1m
Damac acquires Dubai land plots from Dico, Soor Foodstuff
The $77.5-million transaction includes the acquisition of plots in Dubai's Al Sufouh and Business Bay
Arabtec picks UBS to advise on potential merger deal with Trojan
Switzerland-listed bank to "assist in the preliminary review and evaluation" of the companies' potential business

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Latest Issue

Construction Week - Issue 754
Nov 23, 2019