Arabtech Holding, the building company behind impressive buildings in the United Arab Emirates, including the Burj Khalifa, has filed for bankruptcy,
The company filed its bankruptcy papers in a court in Dubai on Sunday, The New Arab reported.
Give the gift of hope
We practice what we preach:
accurate, fearless journalism. But we can't do it alone.
- On the ground in Gaza, Syria, Israel, Egypt, Pakistan, and more
- Our program trained more than 100 journalists
- Calling out fake news and reporting real facts
- On the ground in Gaza
- Covering Israel, Syria, Lebanon
- More than 100 students
- Exposing fake news
Join us. Support The Media Line. Save democracy.
Court experts will determine if the company can restructure, according to the report. Under UAE bankruptcy law, the company has 12 months to try to save the business.
Among the reasons citied for the company’s collapse are overambition and the coronavirus pandemic, according to the report.