Jumeirah Golf Estates wastewater deal in turmoil
- From: Vol 10, Issue 4 (April 2009)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Besix, Degrémont (Suez), Macquarie Bank and Nakheel
The project once hailed as the gold standard for sustainable development in the Gulf has become the latest victim of the slowdown in Dubai’s property market.
The consortium building the 220,000m3/d wastewater collection, treatment and reuse facility to serve Jumeirah Golf Estates in Dubai received a letter of intent from Nakheel at the end of March terminating the contract.
Degrémont and Besix, who were awarded the $800 million 10-year design-buildoperate contract in November 2007, are understood to be contesting the terms of the ...
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