South African contractor was working on six tower Abu Dhabi scheme with two other contractors
Murray & Roberts’ £360m contract to build Tameer Towers in Abu Dhabi has been terminated. It was working on the six tower scheme at Reem Island with two other contractors for developers Sorouh Real Estate and Tameer Holding Investment.
The South African contractor said it “has previously cautioned on volatility in the Middle East market as a result of the global financial crisis and in particular, the alliance nature of the contracting arrangement on the Tameer Towers project.”
Murray & Roberts had a 33% share of the contract and was in a joint venture with local firm Al-Habtoor Engineering and Saudi Arabia’s Al-Rahji Construction.
Despite widespread fears among contractors in the UAE that they will not be paid in such situations, Murray & Roberts said it said was confident would be paid for the work it had done on the project.