Nakheel delays multiple Dubai projects

The financial situation is impacting Dubai Master Developer Nakheel. Today Nakheel announced layoffs of 500 people and now delays of several of the large projects.

The delayed projects are:

Palm Jumeirah

• Trump International Hotel and Tower
• Frond N Villas
• Gateway Towers

Dubai Waterfront

• The 6 manmade islands
• Plus other parts of Dubai Waterfront

The Universe

Most have been delayed and restricted to preliminary engineering studies.

The Palm Jebel Ali

Fond villas and crescent infrastructure will continue. Other phases will be delayed.

Nakheel said work would continue on Madinat Al Arab, Venetto, Badra and the Canal District, but areas of the project, including construction of six man-made islands, would be put on hold.

Nakheel said work on all other projects - which include The World man-made archipelago and Palm Deira would continue as planned.

No details was given for how long time the delays would last

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