Dubai state developer halts pre-construction work on two elements of its $95bn scheme
The Dubai state property firm formed in October to develop the $95bn Jumeira Gardens project has halted two tower projects.
Meraas Development has shelved 1-Dubai tower and put on hold plans for another high-rise office building, both within Jumeira Gardens, according to reports. Contractor Samsung Engineering & Construction has stopped providing pre-construction services for Meraas on the towers.
Meraas announced in December – just two months after it launched Jumeira Gardens at Cityscape Dubai – that it would scale back the scheme.
It declined to reveal details at the time but said: “We are simply reviewing our business strategy, as well as the phasing and rollout of the Jumeira Gardens project to make sure the development proceeds in the most opportune way to meet changing investor needs.”