Quote:
Originally Posted by iced
it is really interesting but yesterday the CEO of RERA said on radio that no project in dubai had been cancelled so if this project has been cancelled then you should contact RERA.
As a investor of Dubai Lagoon some of pressure may help investors in this project. There is a group of individuals who have been doing an excellent job of media coverage and contacting RERA regarding the situation of Dubai Lagoon investors.
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It’s very simple. Dubai they don’t want to many people in the town 100000 people growth per year is acceptable I understand that. One of the ways to stop the coming people is to create a shortage of accommodation which increases rents and makes some people leave the country. Now if they complete all the undone project on time with the prices of 2006 they need a hell of a lot of cheap labor which is not going to happen. On the other hand they will upset a lot of investors and speculators and also is going to help to cool the market. Of course you will get your money back with a bit of interest.