Britain's business secretary has raised concerns about the failure of developers in the United Arab Emirates to pay British contractors and has sought reassurances from local rulers that commitments will be honoured.
The UAE, particularly Dubai, has been hit hard by the global financial crisis and some contractors and consultants have complained they have not been paid for up to six months. -Government-linked developers dominate the UAE's property sector and cash-strapped Dubai-affiliated companies are thought to owe billions of dollars.
Lord Mandelson, UK business secretary, told the Financial Times he had raised the issue with Sheikh Mohammed bin Rashid Al Maktoum, Dubai's ruler, and Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi, the UAE's capital, "stressing the need to give reassurance and confirmation that contractors will be paid".
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