UAE mega-developer opens up on multi-billion dollar expansion into Australia
A UAE-based developer with a portfolio of multi-billion dollar Middle East mega projects has brushed off concerns about Australia's construction sector with expansion into Sydney and plans to spend billions on new developments.
Arada Group CEO, Ahmed Alkhoshaibi, has big plans for the company's Australian expansion.
At a time when eight Australian construction companies collapse every day, a Dubai-based developer has given the sector a vote of confidence in the form of billions of dollars poured in a new Sydney-based operation.
Construction insolvencies have surged to 2,975 in the 2023-24 period, a significant increase from the annual pre-Covid average of 1,570. The construction sector now accounts for 26.9 per cent of all insolvencies nationwide.
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