Dubai Property on shaky foundations?
Arabian Business published a rather interesting article about the property market in the UAE and the developers here.  Damac and Deyaar – and now 4 more developers are under investigation for non-delivery. A1 Tower and Al Arefi Tower have been put on hold or canceled according to the Arabian Business.

So what happens to the people who have bought flats there? Will they be offered a 6% interest rate like Damac tried on the Palm Springs project? With Premiums on the property of 30-40-50-60-70 % - only getting compound interest of 6% p.a. could mean investors will lose money. Will Dubai allow that?

But it could put an end to off plan purchases.

To read more on Arabian Business – Click here