70% of Dubai projects facing delays: analyst | GulfNews.com:
"Amid slowing market conditions, government spending cuts and continued oil price decline, a number of realty projects in the UAE won’t be completed as scheduled this year, an industry consultant has said.
Real estate investment and advisory firm JLL estimated that the delivery of some 18,200 residential units in Dubai won’t come as originally anticipated due to a number of issues. The figure represents 70 per cent of the 26,000 units earlier planned for completion in 2016.
“[The] information received from developers is that 26,000 [residential] units are expected to be delivered in 2016 within 136 projects. Of these figures, based on previous years, we expect around 30 per cent of these to be completed as scheduled,” Craig Plumb, JLL head of research for Middle East and North Africa, told Gulf News."
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