Dubai-listed Arabtec swings to annual loss, blames real estate slowdown

DUBAI (Reuters) - Dubai-listed Arabtec Holding swung to a 774.5 million dirham (161.67 million pounds) net loss in 2019 from a profit of 256.3 million dirham in 2018, the construction company reported on Sunday.Arabtec, which was involved in the construction of the Louvre Abu Dhabi, posted its first annual loss since 2016, according to Refinitiv data.The company blamed the loss on its core construction business, citing a slowing real estate sector where there have been limited new projects..