List of Cancelled / On Hold Real Estate Projects in Dubai
Here is a list of cancelled / on hold real estate projects in Dubai. The developers include Nakheel, Tatweer, Meydan, Tameer, Sama Dubai and Damac amongst others.
more in Dubai -
List of Residency and Foreign Affairs Centres in Dubai
Forex Trading in Dubai
RERA may cancel 90,000 real estate units in Dubai
Dubai among worst hit property markets in the world
Wave of unemployment soon to hit UAE
Dubai Residents Required To Register Tenancy Contacts From 2012
Tiger Woods Dubai golf complex suspended by Dubai Properties
International City rents drop below Dhs 15,000RERA cancels 202 real estate projects in Dubai
House prices in Dubai approaching bottomCategories: Living in Dubai Tags: Damac, Meydan, Nakheel, Real Estate, Sama Dubai, Tameer, Tatweer
At Least 3,200 Job Cuts in Dubai
Finally the mainstream media is coming out with numbers of job cuts in Dubai.
- WS Atkins, a leading British engineering consultancy firm working on Burj Al Arab, have laid off 170 professionals.
- Dubai Labour Supply Company (Dulsco) has laid off 800 workers in two batches.
- Mizin, a real estate development company under Tatweer have also allegedly made 50 people redundant.
- Universal Studios in Dubailand have also let go of as many as 50
- In November master-developer, Nakheel, was the first to shed its human resources, getting rid of 500 people.
- Developer Damac then announced it had let 200 people go, Omniyat 69 Tameer 180 and Better Homes made 50 people redundant.
- Around 35 people had also been sacked from WSP and 15 from the Burj Dubai project at Hyder Consulting. Al Shafar General Contracting also shed nearly 1,000 staff members.
Categories: Business in Dubai, Living in Dubai Tags: Better Homes, Burj Al Arab, Burj Dubai, Damac, Dubailand, Dulsco, Nakheel, Omniyat, Tameer, Universal Studios, WS Atkins
Villa prices in Dubai fall by 45% amid real estate slump
Villa prices at Jumeirah Park and Jumeirah Islands, Nakheel’s exclusive residential developments in Dubai, have plunged up to 45 percent in the last four months.
Brokers across the UAE said speculators were desperately scrambling to off-load property before prices fell further.
Imran Aslam, agent at Dubai-based property broker AAA said completed three to four bedroom villas on Jumeirah Islands were now on the market for as low as six million dirhams, down from 10.5 million dirhams four months ago.
“It’s a big difference now. Investors are quickly reducing prices. They are also finding they have got too many [properties], so they want to sell. At the moment there is no stable price in the market.”
Categories: Living in Dubai Tags: Jumeirah Islands, Jumeirah Park, Nakheel, Real Estate, Recession
Property and Real Estate Companies Cutting Jobs in Dubai
Dubai has felt the heat of global recession and at least property and real estate sectors are already in downsizing mode.
Nakheel, Dubai’s real estate master developer, made 500 people (or 15 per cent of its global workforce) redundant while scaling back projects.
This is the second biggest confirmed job cut in the UAE so far, and comes after two developers, Damac and Omniyat confirmed a total of 269 – 200 by Damac and 69 by Omniyat.
All other major developers have earlier said they are revising headcount downwards, as business activities in Dubai’s real estate has come close to a near halt.
more in Dubai -
How to find a job in DubaiForex Trading in DubaiDubai Residents Required To Register Tenancy Contacts From 2012Wave of unemployment soon to hit UAEDubai among worst hit property markets in the worldInternational City rents drop below Dhs 15,000RERA cancels 202 real estate projects in DubaiHouse prices in Dubai approaching bottomTiger Woods Dubai golf complex suspended by Dubai Properties
Falling Rents in Dubai is a myth?Categories: Business in Dubai Tags: Damac, Jobs, Nakheel, Omniyat, Property, Real Estate
