Dubai’s real estate watchdog is mulling fresh project cancellations this year under a new scheme to evaluate the financial viability of developments, its CEO has said.
"We are in the process of analysing the data. Project cancellations won't happen just like that - there is a process involved and we are working on that," Marwan Bin Ghalaita told reporters on the sidelines of a property event in Dubai.
"Any project that is not good for Dubai and the investors will not go on. We have a new criteria. All the projects are going through a process which asks if they are fit for investment or not.”
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