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Japanese firms reportedly slow down Dubai Metro construction work over payment
A consortium led by Japan's Mitsubishi Heavy Industries has put the brakes on construction work on the Dubai Metro due to a disagreement over payments, one of the firms said last week.
Dubai owes Japanese firms about $7.5 bln
For instance, a Dubai Metro project that started out at $3.6 billion has since seen overall expenses balloon to $10 billion.
Malaysian construction firms in Dubai have minimum exposure
The company has projects such as Atlantis The Palm Hotel, Dubai Metro System, Dubai Mall and Dubai Marina Hotel.
Japanese contractors owed billions by Dubai firms
Japanese builders are owed billions of dollars on projects that include the Dubai Metro and Palm Island, according to a top diplomat and leading contractors from the country, Japanese builders have played a pivotal role in Dubai’s construction boom, spearheading work on the Dh28 billion (US$7.6bn) Metro and helping to build Nakheel’s palm-shaped islands off the emirate’s coast.