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business / International Real Estate

'No defaults' on Dubai property
Dubai's Real Estate Regulatory Authority has said that there have so far been no defaults on payments for high-end properties. 'Every project on the ground and under construction would be completed. Master developers are intact and the high-end third party developers may find alternatives to carry on with their projects through bulk selling of units to private equity funds and hedge funds,' Rera's CEO told Emirates Business.
ameinfo.com Monday, December 01, 2008

Trump Tower 'on hold'
Palm Jumeirah's flagship development, Trump Tower, is said to have been suspended, according to The National. The Dhs2.9bn project has been suspended according to Leighton Holdings, with Nakheel agreeing to cover all costs to date. This follows last week's announcement by Donald Trump's company that it would miss a $53.1m bond interest payment due on December 1.
ameinfo.com Monday, December 01, 2008


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