Sama Dubai halts work in Morocco and Oman
Developer ‘pulls back’ from multi-billion dollar projects, claim overseas officials.
May 5, 2010 4:34 by Ben Flanagan
Developer Sama Dubai has pulled out of the $3 billion Amwaj development in Morocco, and halted construction on the $1.7 billion Salam Yiti development in Oman, according to tourism ministry officials quoted by Bloomberg.
Moroccan Tourism Minister Yassir Zenagui said Sama Dubai has “pulled back” from the project, while Wael Al Lawati, CEO of the Omani Tourism Ministry’s investment arm, said construction had stopped on the Salam Yiti project.
Sama Dubai, which is part of the group building a Tiger Woods golf resort in the emirate, said it remains committed to the two projects, according to Bloomberg.
More on GCC
-
Dubai ruler makes horse doping illegal
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Saudi Arabia confirms another death from SARS-like virus
-
Prepaid cards available across the UAE
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
Lately on Kipp
-
Dubai ruler makes horse doping illegal
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Over 90% of passwords vulnerable to hacking
-
‘Renewable energy absolutely necessary’ – Saudi
-
NEC Display Solutions launches Full HD 3D ready compact meeting room projector
-
Saudi Arabia confirms another death from SARS-like virus
