Dubai project fund to bring back investor confidence

Dubai developers have welcomed a new initiative to bolster and supplement the emirate’s housing market, saying that it will bring investors back in.

Dubai’s Real Estate Development plan, or Tanmia, has been launched this week by the Dubai Land Department in order to revive the market and “stand in the face of faltering projects”.

“The initiative aims to address the problems that stand in the face of completion of faltering projects in the domestic market in the emirate,” Sultan bin Butti bin Merjen, director general of the Land Department, said.

And Mohammed Ali, general manager of ETA Star Properties, believes that the initiative will spark confidence over project completion.

Source: OPP.org.uk