|11-16-2014, 02:35 PM||#1|
DLD revives 43 mega-projects in Dubai
A total of 43 mega-projects worth AED10 billion ($2.7 billion) have been revived by Dubai Land Department (DLD) after they were delayed and paused during the late recession period.
The DLD program entitled "Tanmia", which studies and analyzes closely any projects that were put on hold or uncompleted in Dubai as a result of difficulties, financing shortage or any other factor, decided to revive these projects.
Tanmia is sort of the middleman that actually creates the link between the investors who are interested in buying or investing such projects along with the developers of these real estate developments.
“We have facilitated takeover of 39 projects valued at AED10 billion by various developers under our Tanmia initiative,” said the DLD senior deputy director, Duaa Issam Dablan. “We arranged funding for another four projects under our programme.”
Such a recent resurrection of 43 huge projects with the help of the DLD program reflects a stronger demand within the real estate sector of the country as well as a strong revival of the economy
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