Dubai Courts list sheds light on 36 cancelled projects | The National

Dubai Courts list sheds light on 36 cancelled projects | The National:



"A list of 18 developers and 36 developments posted on the Dubai Courts website is believed to be the first definitive list of cancelled projects in the emirate.



While it is assumed that the list is meant to remove ambiguity over what developments are at what stage, in order to give investors clarity, Dubai Courts did not respond to interview requests from The National.



Still, the list should provide investors in the cancelled projects with a new timeline under which refunds could be forthcoming.



“Ultimately this is about improving transparency,” said Matthew Green, the head of research and consultancy at the property consultancy CBRE. “One of the main gripes of investors and people that work in the market is the lack of transparency, particularly around issues such as this. Which projects are cancelled, which are still valid. It gives more information to the investor as to what is attractive and what should be avoided. It is just one part of an overall strategy to get the market towards maturity. You would have access to this sort of information in any mature market place.”"



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