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Al Habtoor Leighton expects profit despite Dubai challenge
- United Arab Emirates: Sunday, August 09 - 2009 at 11:21
Dubai-based Al Habtoor Leighton Group has said that getting paid in Dubai remains "challenging" as the financial crisis curtails lending, Bloomberg has reported. "We continue to work with our partners, clients, subcontractors and suppliers to manage the situation, but I think at the moment liquidity generally is very challenging," the firm's managing director David Savage said. The company values its order book at Dhs26bn. It expects demand in Abu Dhabi, Qatar, Kuwait and Saudi Arabia to remain strong, with Savage saying that although Dubai is a challenge, in other regions 'it's business as usual'. He added that profit in the company is expected to rise this year, but not at previous levels.
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StaffSunday, August 09 - 2009 at 11:21 UAE local time (GMT+4)
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