Emaar Properties, the UAE’s largest property developer, has no plans to issue credit notes that allow customers to swap their investments between projects, the company said in a statement.
However the firm is allowing those who have invested in projects still to break ground to transfer their purchases to those that are under development.
“As part of our commitment to customers, we are currently offering several options including end-users having the option of transferring their purchases from projects that will be completed at a later stage to those in the advanced stages of development,” the statement said.
“Emaar has not issued or is planning any document that will enable customers to transfer their payment to others.”
The statement added that no projects launched by the firm have been put on hold and that “all the developments are progressing and in line with Emaar’s strategy to complete all commenced projects.”END
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