Dubai construction companies are starting to get paid as Government-backed property developers tap into the first half of the US$10 billion (Dh36.7bn) bond issue.
Contractors have struggled to get their dues in the past six months as developers grapple with cash flow issues, but some are beginning to see payments trickling through.
Nasser al Shaikh, the director general of the Dubai Department of Finance, said this week that firms had drawn Dh18.3bn from the bond, with the main recipients being property companies.
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