Dubai Racecourse Meydan Continues Legal Dispute With $952.8M Claim
Meydan Racecourse has launched a Dh3.5B ($952.8M) legal claim against UAE builder Arabtec and the Malaysian contractor WCT over the construction of the racecourse that hosts the Dubai World Cup, according to Sean Cronin of THE NATIONAL. Arabtec and WCT originally "won the contract to construct the lavish horse-racing development" in Sept. '07 at the "height of Dubai's six-year construction boom." But Meydan cancelled the contract 16 months later, saying the contractors "had not kept to the construction timetable." The joint venture subsequently launched an arbitration action against Meydan, alleging breach of contract. That claim currently stands at Dh2.8B ($762.3M). Meydan has now responded with its own civil suit in the Dubai Courts, arguing that the original arbitration had expired. WCT dismissed the claim as "frivolous and without merit" and vowed to fight the civil suit (THE NATIONAL, 7/2).