A staggered approach to reviving cancelled projects | GulfNews.com:
"Amidst the flurry of announcements by Rera (Real Estate Regulatory Agency) updating the list of cancelled projects, the question on every vested party’s mind was: When will the monies be finally recovered?
Ever since the freehold bust in 2008, a number of projects have stalled, and Rera and the Dubai Land Department have worked with developers and investors to revive a number of these successfully. However, their numbers are still considerable and investor funds remain stuck in them. The process of recovery remains a long winded one and investors, more likely than not, will have to wait further as the projects await liquidation.
Given the construction boom the city is undergoing at present, looking abroad may offer some solutions as to expedite the process, as well as allowing for these projects to be revived."
'via Blog this'
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