A consortium of builders including Murray and Roberts of South Africa and Leighton of Australia have pulled out of a Dh4.9bn (US$1.33bn) contract to build a third concourse at Dubai International Airport.

It represents the third major project loss for Murray and Roberts in the UAE since December as clients seek to renegotiate contracts to take advantage of declining construction costs and a continuing project finance crunch.

The joint venture, to provide facilities for the new Airbus A380 aircraft, also included Al Habtoor Engineering and Takenaka.

The National