220 Dubai property projects 'moving forward'

23/03/2011 - Dubai Property News Posted by Bob Brunskill
220 Dubai property projects 'moving forward'

Over 200 property development projects in Dubai are moving forward, with investors being directly informed of cancellations.

The chief of Dubai's Real Estate Regulatory Agency (Rera) Marwan bin Ghalita said that the 220 projects have currently been evaluated, Emirates 24/7 reported.

Speaking at the third Arab Real Estate and Urban Development Conference, Mr Ghalita said: "Tomorrow, the numbers would rise and since we are constantly evaluating the projects.

"Project that are [sic] not good for investors will not go on … investors of the cancelled projects are being informed."

The Rera chief noted that market sentiments are on the rise this year in the Emirates.

Indeed, Reidin.com reported that there have been 1,647 transactions this year.

Meanwhile, Sultan Butti bin Merjrin, director-general of the Dubai Land Department, has stated that transactions registered in 2010 were worth Dh120billion and numbers are expected to increase over the course of 2011. ADNFCR-2019-ID-800473830-ADNFCR