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Sunday, February 22, 2009

Dubai Real Estate Good News

USA homebuilder John Laing Homes,one of the largest private home buildiers in US and a subsidiary of Emmar properties file bankruptcy.The company listed assets of more Dh3.678 billion($1 billion) and debts of $500 to $100 million.The info is stated in the Chapter 11 documents in Bankruptcy Court Delaware.

In the other of the the bad news,there are also new projects to be implemented in the year of 2009 by one of the leading property developers,Deyaar.Markus Giebel,The Chief Executive of Deyaar announced that it will deliver more than 7 projects with more than 1300 units of its diverse project portfolio.The projects will be

1)The Citadel -the commercial tower (Business Bay)

2)Hamilton Residency -residential tower (Business Bay)

3)Madison Residency - the residential project (TECOM)

4)Coral Residence (Dubai Silicon Oasis)

5)Jade Residence (Dubai Silicon Oasis)

6)Ruby Residence (Dubai Silicon Oasis)

7)Saphire Residence (Dubai Silicon Oasis)

Besides the good news,there is another one.Many leading property developers also implemented an easy payment schedule to lighten investors burden too.Chapal,a freehold property developer announced an extension of 1 year for payment schedules to Dubai and Ajman property buyers.It will be easier for investors who invested in Chapal's projects like Emirates City Ajman, Jumeirah Village Dubai,Dubai Sports City, Emirates Lakes Towers (Ajman),Chapal Flora Residences (Ajman).Dawood Al Shirawi organiser of International Property SHow 2009(IPS 2009) has confidence that the RE market will be recovered in 2009 with new regulations.

1 comment:

  1. That is the requirement of the time that Property Developers Dubai give more time to investors and buyers to pay of their loans or else if current investors forfeit then there are no new purchasers in the market at the moment


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