Contractors considering legal action against Tabreed

Contractors are mulling legal action against district cooling developer Tabreed for non-payment as the Dubai-listed firm grapples with liquidity issues due to the construction slowdown.

Tabreed, in which Abu Dhabi's state-run investment firm Mubadala has a stake, has withheld payments to some of its leading contractors, seeking discounts for some completed projects.

Some leading contractors working for Tabreed said the firm has not paid them since the financial crisis began and has even written to them that future payments will be contingent on reaching agreements on the discounts.