Meydan: concerns over 2010 opening after cancelled contractPICTURE: Dubai Racing Club
$1.3bn Dubai racecourse contract cancelled
UAE: MAJOR work on Meydan, the futuristic racecourse due to be opened in Dubai in November this year, was halted on Tuesday - giving rise to concerns about the deadline for a multi-million-dollar project set to be officially opened at the Dubai World Cup in March 2010.
Meydan's developers have cancelled the main construction contract, which was reported at the time of its signing in September 2007 to be worth $1.3 billion (£890m).
A statement from Meydan said the deal, between a 50-50 joint venture of local company Arabtec and the Malaysian firm WCT Engineering, had been called in "because of non-adherence to the agreed time schedule for construction".
They stressed the decision had been made in order to ensure the showpiece project is ready on time.
The decision will not affect the ten-meeting Dubai Carnival season at Nad Al Sheba, which starts on 15 January, or this year's World Cup on March 28, within days of which the existing Nad Al Sheba site is due to be bulldozed.
However, despite Tuesday's statement from Meydan confirming the intention "to inaugurate the project as planned in time for the 2010 Dubai World Cup," the turn of events is bound to cast some doubt on the timetable for the new track.
Read more in Wednesday's Racing Post - or buy the newspaper as a PDF