Dubai has witnessed completion of 129 projects since 2009 with 237 out of 450 projects likely to be completed in due course, according to information contained in the government’s bond prospectus posted on the London Stock Exchange.
Quoting Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, the prospectus said that 217 property projects have been cancelled as of May 31.
Currently, there were 455 registered developers and 893 registered brokers in Dubai as of May 31. Under the Tayseer (government-guaranteed funding project), 114 projects have been registered.
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