Another news that speaks of incoming recession in Dubai. According to the report, a British consultancy and construction firm has relocated a number of staff from its Dubai office to work on projects in Saudi Arabia, due to the construction slowdown in the emirate.
Mace, a global firm with offices across the GCC, is using its existing staff from Dubai to staff its offices in Saudi Arabia and France, however no total figures are available.
Mace is working on a number of projects in Dubai which have been affected by the credit crunch including the Asia Asia hotel at Bawadi.