217 Registered Projects Canceled in Dubai

Downtown Mall Gulberg Lahore
Downtown Mall
Goldcrest Mall & Residency DHA Phase 4 Lahore
DHA Goldcrest Mall
DHA PentaSquare Phase 5 Lahore Render
DHA Penta Square
DHA Raya
DHA Haly Tower Corporate Offices Shops
DHA Haly Tower

As Dubai continues to struggle with its real estate woes, the latest sign that things are not yet quite set to improve comes with the report that Dubai’s real estate watchdog organization has canceled around 217 registered property projects since 2009[1]. The group, called the Real Estate Regulatory Authority (RERA), reviewed about 450 projects in the emirate and may have canceled as many as 217, although it admitted that 237 would likely be completed “in due course.” Last year, the value of property transactions fells to 119.5 billion dirhams ($32.5 billion) from 152.9 billion dirhams in 2009, and residential prices in the region are still falling with declines of 1.2 percent in May. Home prices are down 64 percent from their mid-2008 peak[2].

Analysts credit Dubai’s troubles with massive over-construction during a “speculation-filled [real estate] boom” that ultimately ended when construction far outstripped demand.

DHA Lahore
DHA Lahore
DHA Peshawar
DHA Peshawar
DHA Quetta
DHA Quetta
DHA Multan Logo
DHA Multan
DHA Gujranwala Logo
DHA Gujranwala
DHA Bahawalpur
DHA Bahawalpur

Property Buying & Selling was never easy before, simply connect with our WhatsApp Hotline for absolutely free property consultancy. Please save this number +923111042111 in your contact list to get regular updates from us, otherwise you will not receive any update.

Subscribe to our YouTube Channel for latest videos abuout Pakistan Property including DHA Lahore, Peshawar, Quetta, Multan, Gujranwala & Bahawalpur. Also Naval Anchorage Gwadar, New Tonw, Sangar, BECHS, FTBA, Creek City, Golden Palm, GDA 5, Muscat Center and many other projects in Pakistan.

217 Registered Projects Canceled in Dubai
Scroll to top
WhatsApp WhatsApp Hotline +923111042111