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FINANCIAL NEWS
‘Scale Dubailand down’
18 Jun 2011
(MENAFN) Business Monitor International (BMI) prepared a new report that shows that a massive downsizing of the multi-billion dollar Dubailand project must take place in order for the project to be in accordance with current circumstances of the real estate market in the emirate, reported Arabian Business.
The project in subject was suspended back in 2008 as the real estate market collapsed in Dubai with the global financial crisis.
BMI said that the current value of the project at USD91 billion was unrealistic and should be reconsidered.
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