Dubai – Mubasher: Arabtec Holding has affirmed the appointment of US-based Moelis & Company to advise the firm on debt and capital restructuring.
One of Arabtec’s main goals during this year was to improve budget, according to a statement to the Dubai Financial Market (DFM).
Arabtec, which helped build the Louvre Abu Dhabi, further noted that restructuring debts will contribute to achieving sustainable growth.
On Friday, informed sources told Reuters that Emirate real estate developer hired Moelis & Company to advise it on restructuring debts and capital.
Arabtec last reported a 96.9% surge in net profits for the first half of 2018, reaching AED 113 million, compared to AED 57 million during H1-17.
Arabtec’s profits hit AED 49.36 million in Q2-18, up from AED 40.8 million in the same quarter a year earlier.
