{"id":24060,"date":"2016-08-26T15:21:00","date_gmt":"2016-08-26T08:21:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hlg-chief-released-from-custody-as-habtoor-exits-joint-venture\/"},"modified":"2016-08-26T19:55:41","modified_gmt":"2016-08-26T12:55:41","slug":"hlg-chief-released-from-custody-as-habtoor-exits-joint-venture","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hlg-chief-released-from-custody-as-habtoor-exits-joint-venture\/","title":{"rendered":"HLG chief released from custody as Habtoor exits joint venture"},"content":{"rendered":"


\nThe chief executive of Habtoor Leighton Group (HLG) who was arrested in Dubai this month has been released without charge.His release coincided with the exit of Al Habtoor Holding from the joint venture construction company behind some of Dubai’s biggest projects \u2014 including one that was billed as the world’s largest building.Jos\u00c3\u00a9 Antonio L\u00f3pez-Monis, the chief executive and managing director of the contractor was arrested on August 17. No further details on why Mr L\u00f3pez-Monis had been detained were made public.His detention came to light after CIMIC Group, which has a 45 per cent stake in the contractor, issued a statement to the Australian Stock Exchange.The company issued a second statement on Friday morning confirming Mr L\u00f3pez-Monis has been released without charge.At the same time CIMIC said it had entered into a binding agreement with its two joint venture partners in HLG which “will enable one of the shareholders, Al Habtoor Holding LLC to transfer its shares to another partner Riad Al Sadik, subject to execution of final documentation.”Mr Sadik is the current chairman of HLG who along with Khalaf Al Habtoor, founded Al Habtoor Engineering Enterprises in 1970.The withdrawal of Al Habtoor from HLG marks the end of a partnership that was formed in 2007 when Al Habtoor Engineering merged with Gulf Leighton, part of CIMIC Group \u2014 Australia’s biggest contracting group.Over a decade the pair delivered high profile projects countrywide but came unstuck on the $2.4 billion Dubai Pearl launched in 2009.According to the HLG website, the development was expected to be the largest single building in the world covering some 20 million square feet spread across four 73-storey mixed-use towers.But seven years after its launch, construction work has long since stopped with only the partially constructed concrete frames of the buildings visible from the surrounding roads.HLG could not be reached for comment on Friday.business@thenational.ae
\n
\nSource : thenational.ae
\nRead more…HLG chief released from custody as Habtoor exits joint venture<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The chief executive of Habtoor Leighton Group (HLG) who was arrested in Dubai this month...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24060","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6g4","jetpack-related-posts":[{"id":24036,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/habtoor-leighton-group-chief-released-without-charge\/","url_meta":{"origin":24060,"position":0},"title":"Habtoor Leighton Group chief released without charge","date":"August 26, 2016","format":false,"excerpt":"\r The chief executive of Habtoor Leighton Group (HLG) who was arrested in Dubai this month has been released without charge.His release coincided with the exit of Al Habtoor Holding from the joint venture construction company behind some of Dubai's biggest projects.Jose Antonio Lopez-Monis, the chief executive and managing director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23251,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/habtoor-leighton-group-chief-executive-arrested-in-dubai\/","url_meta":{"origin":24060,"position":1},"title":"Habtoor Leighton Group chief executive arrested in Dubai","date":"August 18, 2016","format":false,"excerpt":"\r The chief executive of Habtoor Leighton Group (HLG) has been arrested in Dubai.Jos\u00c3\u00a9 Antonio L\u00f3pez-Mon\u00c3\u00ads, the chief executive and managing director of the contractor was arrested on Wednesday according to an Australian stock exchange filing.\"As a result of a complaint filed with police in Dubai, the CEO and MD\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4299,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/habtoor-leighton-group-stays-quiet-on-prospects-for-initial-public-offering\/","url_meta":{"origin":24060,"position":2},"title":"Habtoor Leighton Group stays quiet on prospects for initial public offering","date":"February 10, 2016","format":false,"excerpt":"\r \r The UAE-based contractor Habtoor Leighton Group (HLG) owes its Australian parent A$1.2 billion (Dh3.13bn) even as it received an equity injection of A$33.5 million from shareholders last year.HLG was meant to be \"IPO-ready by 2016\", according to previous statements made by its partners. However, newly filed accounts by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41865,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hlg-lands-dh401m-contract-to-build-al-garhoud-towers\/","url_meta":{"origin":24060,"position":3},"title":"HLG lands Dh401m contract to build Al Garhoud Towers","date":"January 25, 2017","format":false,"excerpt":"\r Dubai-based HLG Contracting has landed a Dh401 million contract to build a trio of linked towers near Dubai airport.The contract was awarded by Hasabi Real Estate for the Al Garhoud Towers project. One of the three towers will contain a 250-bed, four-star hotel; a second will house a three-star,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uaes-al-habtoor-group-moves-closer-to-ipo-weighs-europe-acquisitions\/","url_meta":{"origin":24060,"position":4},"title":"UAE's Al Habtoor Group moves closer to IPO, weighs Europe acquisitions","date":"June 5, 2016","format":false,"excerpt":"\r Al Habtoor Group, the sole dealer of\u00a0Bentley and Bugatti in the UAE, is closer to the initial public offering it has been considering since 2000,\u00a0its chief executive officer said in an interview.\"We have all the documents ready, all that we need to do is to update all the information\"\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4902,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-habtoor-group-buys-historic-vienna-hotel-from-starwood\/","url_meta":{"origin":24060,"position":5},"title":"Al Habtoor Group buys historic Vienna hotel from Starwood","date":"February 16, 2016","format":false,"excerpt":"\r \r Dubai conglomerate Al Habtoor Group has added its seventh overseas property to its hotel portfolio with an acquisition in Vienna.The company acquired the historic Hotel Imperial from New York-listed Starwood Hotels and Resorts for US$78.8 million, according to the US-based company.The announcement comes just days after Al Habtoor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24060"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24060"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24060\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}