Dubai retreats on just-announced $95B development

The newly created Dubai developer that unveiled a 95 billion dollar real estate project just 2 months ago says it is reviewing its plans in light of the economic downturn.

Meraas Development says “it has seen that investor demands have changed” and that it must quickly respond to meet these market needs.

The developer says it is reassessing its business strategy and the rollout of its flagship Jumeira Gardens project slated for a central part of Dubai. The company, which was launched in late September, announced the building project at a property expo in October.

Meraas says it expects to have more details on the project by the beginning of next year.

This entry was written by , posted on December 4, 2008 at 12:40 am, filed under Real Estate News and tagged Business Strategy, Developer, Dubai, Economic Development, Economic Downturn, Investor, Property Expo, Real Estate Project. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.

One Comment

Property Dubai

Posted December 27, 2008 at 3:00 am | Permalink

Well that would be the most sensible thing to do right now.

Post a Comment

Property Listings
- 2 bedroom Apartment / Flat for Sale in Uttam Nagar, New Delhi (P352680137) January 31, 2012
  Builder Floor for Sale at Uttam Nagar, Delhi 2 bedroom with wall to wall pop, 1 drwing room with fall ceiling work, 1 modular kitchen with chimney, 2 toilet bathroom with branded sanitary fittings, reserved car parking, near utam nagar west metro station, texture work in bedrooms, 1 almirah in ... more details.. […]
- 3 bedroom Apartment / Flat for Sale in Uttam Nagar, New Delhi (P463901374) January 31, 2012
  Solid 3 bedroom with wall to wall pop, 1 drwing room with fall ceiling work, 1 modular kitchen with chimney, 2 toilet bathroom with branded sanitary fittings, reserve car parking, loan facility available by nationalise bank, near utam nagar west metro ... more details.. […]
- Commercial Plot / Land for Sale in Thousand Lights, Chennai (P813856932) January 31, 2012
  Mount Road Chennai Prime Commercial Land for Sale Mount Road Chennai Commercial Land for Sale by Owner. Central Business District (CBD), Anna Salai, Thousand Lights near US Consulate in Madras. 1300 sf corner plot on main road with a Mount Road address. Ideal for retail or office space. Clear title... more details.. […]
- Residential Plot / Land for Sale in Old Mahabalipuram Road, Chennai (P349852139) January 31, 2012
  10 grounds in omr we have 10 grounds of land in omr, price is negotiable. and we are also flexible in selling 2-5 grounds for those who are not interested in buying the entire area. more details.. […]
- Independent House for Rent in Hebbal, Mysore (P490161394) January 31, 2012
  Renting and Leasing of Residential properties across Mysore. Call at 9-4-8-0-3-8-8-7-9-2 for details of this property and other similar properties available with us. Manjesh Estate Agency serving the cliental in Buying, Selling, Renting and Leasing of Residential / Commercial / Industrial and Agricultural ... more details.. […]
- 2 bedroom Apartment / Flat for Rent in Whitefield, Bangalore (P294902313) January 31, 2012
  2 BHK Apartment for Rent in Prestige Shantiniketan, ITPL, Bangalore Looking for a Tenant for my 2 BHK apartment in Prestige Shantiniketan. Located on one of the most envied areas in Bangalore Whitefield, filled with 105 acres of fresh, green spaces, Prestige Shantiniketan is a haven that promises to offer the best ... more details.. […]
- Residential Plot / Land for Sale in Dairy Farm Road, Hyderabad (P139490221) January 31, 2012
  Trimulgherry 222sq yrds East facing plot Secunderabad East facing plot in Trimulgherry 40 ft by 55 ft , 222 Sq Yrds at Brindavan Nagar Colony a fully developed residential colony with independent bungalows. Road opp to AWHO Ved Vihar Trimulgherry behind Subash Nagar, clear title just 7Km From ... more details.. […]
- 2 bedroom Apartment / Flat for Rent in Wazirabad, New Delhi (P939490211) January 31, 2012
  Home 2 BHK, Separate entry more details.. […]
- 3 bedroom Apartment / Flat for Sale in Anand Niketan, New Delhi (P489711394) January 31, 2012
  flat built 2010 small garden two private car parks deluxe finish anand niketan Total area is of 2800 sq,feet,divided into two floors each of 1400 sq.feet. There is a small garden of about 120 sq.feet,plus 2 private car parks,one inside the drive way,one outside.The flat is on the front portion of the total property. There are 3... more details.. […]
- 3 bedroom Apartment / Flat for Rent in Modern Housing Complex, Chandigarh City (P664139489) January 31, 2012
  3 BHK Flat in MHC, Chandigarh 3 BHK/3 BATHROOM Flat in Modren husing complex,Chandigarh more details.. […]

India Investment Property