Morning round-up: Contractors' cheques are (maybe) in the post

Some money is actually beginning to trickle down to the UAE's big developers for work done last year, reports The National's Angela Giuffrida. Big contractors like Arabtec Construction, Al Habtoor Leighton and Al Jaber Engineering & Contracting are getting paid by what is believed to be government-backed developers, which have tapped into the first half of a US$10bn bond issue by the Dubai Government. But the little guys are still waiting for theirs, "and may have to completely write off profits expected from work awarded in 2007 and 2008," she writes.

The first phase of Abu Dhabi's Saadiyat Island is on track and construction work on the project's St Regis hotel will start in July, reports The National's Rebecca Bundhun.

And all is not well in Hydra Village, the project that the Abu Dhabi-based Hydra Properties had originally scheduled to complete this year, but pushed back two years. Emirates Business 24/7 reports that Hydra Properties has issued legal notices to some investors in the Hydra Village project saying their property will be re-acquired by the developer and the amount paid to reserve the units by the investors will be forfeited if they fail to pay their outstanding dues.

Speaking of the Abu Dhabi housing market, if you're a renter in the capital and want to get something off your chest, the 2009 LEASE|RENT Abu Dhabi Rental Market Survey wants to hear from you. The survey can be found here.