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Arabtec denies Meydan project deal

"In reference to the recent Press releases in the local and Malaysian media, the Arabtec-WCT joint venture announced that as of today, the Meydan Dubai Race Course project has not been awarded to them," Arabtec said in a statement.

The statement was released through the public relations company Sahara, while going to Press, said that Arabtec officials could not be reached for comment because they were in a closed-door meeting.

Meydan is an Arabic word which means a place where people congregate and compete.

Published reports yesterday said that the new racecourse would be built to replace the existing Nad Al Sheba course as the home of Dubai World Cup. Meydan would be built close to Sheba course, however.

Spanning 76 million square feet, the new course would allegedly open in 2010, for the Dubai World Cup meeting. A world-class grandstand, state-of-the-art dirt and turf tracks, a championship 18-hole golf course, offices, a five-star hotel and villas were among the added features of Meydan mentioned in the reports.

Having built Forumula 1 race tracks in Malaysia and Bahrain, WCT Engineering is now building another F1 circuit in Abu Dhabi.