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2010-07-27 — bloomberg.com
Times have changed for the Alimad Engineering and Contracting Company in Abu Dhabi.
Two years ago, the developer was building everything from 20-story glass towers to luxury villas. It’s now shelving projects, the latest a $12 million contract with a client who has $2 million and the banks won’t give him any more money, said Ziad Ali, whose father founded the company 20 years ago.
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