The number of property developers registered in Dubai has fallen by about 40 per cent in two months, according to the Real Estate Regulatory Agency (RERA).
Some firms were weeded out as part of a “clean-up” by the agency because they were unlikely to start their projects, while others fell victim to the economic crisis.
Marwan bin Ghalita, the chief executive of RERA, said there were now about 500 developers registered in Dubai, compared with more than 800 in November.
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