United Arab Emirates : Emaar may scrap plan for 13 Burj towers.Byline: shiv03 Emaar Properties Emaar Properties (Arabic: إعمار), the Dubai-based Public Joint Stock Company and one of the world’s largest real estate companies, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. , the Dubai company behind the world s tallest tower, may cancel 13 high-rise buildings high-rise building Multistory building taller than the maximum height people are willing to walk up, thus requiring vertical mechanical transportation. The introduction of safe passenger elevators made practical the erection of buildings more than four or five stories tall. it planned to have in its Downtown Burj Dubai This article contains information about a building currently under construction. It may contain information of a speculative nature, and the content may change dramatically as construction progresses and new information becomes available. development after the economic downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. drained demand for homes, UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. daily the National reported on Monday. Investors who had made down payments to buy into the planned towers have agreed to use their funds to buy Emaar s properties, the newspaper reported citing brokers. The Emaar consolidation now is almost over All the big amounts are gone now (on these 13 towers), said Hakan Goksel Samur, chief executive of Dubai Emlak Consultancy that had brokered several deals. The global recession has sent Dubai s once-booming property sector crashing, forcing developers to scrap or delay projects due to a lack of funds. Buyers have also become scarce.Some large developers have been able to provide alternative properties to buyers of projects that have been cancelled or delayed.But not all buyers are happy with such options, saying the alternatives are either expensive or do not match their requirements. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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