Dubai Land reclamation projects to slow

Contracts to reclaim land for numerous offshore island developments are expected to slow as financing to these projects dries up, dredging companies say.

The pioneer of local man-made islands, Nakheel, has scaled back reclamation activity on the Palm Deira, the largest of its three Palm island developments in Dubai, in response to the liquidity shortage.
Dredging contractors also expect work on other long-term reclamation developments to slow down over the next few months.

“There’s still a large amount of tenders we have to submit bids for, but whether they will turn into contracts is another matter,” said Frank Jeuniaux, area manager, Dredging International, a Belgium-based company, on the sidelines of Meed’s coastal projects conference on Tuesday.
“We see the tendering process getting slower.”

Land reclamation projects to slow - The National Newspaper

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