DUBAI PROPERTY REAL ESTATE RENT DROPPED

Nakheel announced that parts of the town of Dh.350bn JUMEIRAH GARDEN CITY, international hotel of asset, tower on the Jumeirah palm, and of the kilometer-high tower will be put on the catch.

Even on work the universe will be limited to the preliminary studies, Nakheel indicated. The reduction with the liquidity and the financing carried out to delay moving of such projects, having for result these projects supporting the shock of financial agitation. The mega-projects which earlier had caused a pole of Dubai Property, were now put on the catch.

Without limits as, indicated as it reviews the construction schedule of the Arab channel. The chief of Dubai’s RERA, rack Galita de Marwan, said that the realizers must review their projects which must be launched still on sale. The recession is a very crucial phase, and RERA had invited lotisseurs to do this about one year before, Galita indicated.

The President of the Board of management of the crises, Al Abbar of Mohammad, at last week said that it would withdraw on his festival of building due to the current financial crisis. Independently to support its projects, Nakheel also congedie 500 employees, constituting the company a ‘labour of S of 15 percent. All the 500 employees were offered the package of redundancy, including services of support of professional reintegration to help them during this transitional stage.

Improve the houses, Damac and Omniyat also, followed the movement, with better houses decreasing 50 work, Omniyat with 69 work, and Damac congedie 200 work, with the fall in the request of the properties.
Meeras however, indicated that it at present does not have plans for dismissals.

According to analysts, approximately 819 employees lost their work in the sector of real estate of Dubai until the date, with following more. However, the chief of research and the consultation in Cluttons, Matthew Green, said that these events are not limited only to the sector of real object, and few others of corporation principal also, announced compressions of personnel.