Developers like Nakheel will pay 60-70% of outstanding debts, says Davis Langdon

Davis Langdon and Aecom, which merged last week, have said it will take 鈥渟everal years鈥� to get by clients in Dubai. The two firms said payments from various developers including state-linked Nakheel and the Dubai Road and Transport Authority (RTA) would 鈥渃ertainly鈥� not be paid 鈥渋n the next 12 months鈥� in an interview with Arabianbusiness.com.

Kevin Sims, Davis Langdon鈥檚 head of Middle East, declined to reveal how much his firm is owed but said: 鈥淲e鈥檙e now slowly agreeing recovery. But they鈥檙e typically on payment plans of a number of years and (clients) are seeking discounts in order to get an agreement. We expect to receive between 60 and 70 percent of the debt. It is trickling in. The other day we had half a million dirhams from a client.鈥�

Of an estimated 拢22.5m order book, Dubai comprises about $3.2m of Davis Langdon鈥檚 UAE business, Sims said, down from 80 per cent of business in early 2008.

David Barwell, Aecom鈥檚 Middle East chief executive, said regarding money owed by the RTA: 鈥淭here鈥檚 still money outstanding, we do get paid but it comes in dribs and drabs. We鈥檙e now starting to see a bit more consistent pay.鈥�

Aecom, a拢3.8bn American multidisciplinary consultant, bought 拢208m-turnover UK QS Davis Langdon for 拢204m last week.

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