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Construction slowdown leads to loss

14.05.2015
Construction slowdown leads to loss
Arabtec, the UAE's largest listed contractor, saw a surprise AED279.8 million first-quarter loss.

Losses loom ahead for firms like Arabtec, after a marked slowdown in the construction sector and a fall in oil prices.

According to a report in The National, the UAE's largest listed contractor saw a surprise AED279.8 million first-quarter loss.

Company shares plummeted 9.8% in early trading yesterday before recovering ing in the afternoon to close 3.53% down at AED2.42 after Arabtec reported the loss, which compared with a AED137.9m profit a year earlier.

The results, which missed analysts’ expectations, mark the second consecutive loss Arabtec has reported after the company announced a AED94.4m loss for the final three months of last year.

Global Investment House had forecast Arabtec would make a quarterly profit of AED95 million, while SICO Bahrain had estimated a profit of AED20.2 million, Reuters said.

The company said that the loss would not affect Arabtec’s capacity to work on its ambitious backlog of projects, with a further AED1.7bn of projects awarded during the first three months of the year.

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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
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Ad placement

1 day

Ad placement:
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Signing of the lease agreement
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Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

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Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

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Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
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Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
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1 year

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5% of the annual rental price

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Selection of optimal investment options
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Registration of the contract of purchase / sale
Expenses of the investor:
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