Developer reviews pace of its development programme as downturn hits
Dubai developer Limitless has made 38 employees redundant and is reviewing the pace of its developments due to the global economic downturn. The firm recently told Building it was also renegotiating payment plans with consultants and contractors.
The staff cuts amount to 7% of Limitless's workforce and have been made both at the developer's Dubai HQ and at some of its offices around the world.
“We have made a difficult but necessary decision in response to current market conditions,” a Limitless spokesman told UAE newspaper The National.