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Emaar resolves Saudi Jadawel dispute

Dubai's Emaar Properties has said it has settled its dispute with Saudi-based Jadawel International and said neither party has any pending claims against the other, Reuters has reported. Jadawel had sued Emaar in December 2004 at the Board of Grievances in Saudi Arabia, seeking to enforce an agreement signed with the Dubai developer in 2003. The company filed several claims totalling about Dhs1.4bn ($381.2m) against Emaar at the time. "Both companies would like to announce that the dispute has now been resolved amicably with neither party having any claim against the other in the dispute," a joint statement said.