Dubai Projects On Hold

March 19, 2009 - Dubai

Two ambitious Dubai projects, announced just a few months ago, have reportedly been put on hold.

Details are scarce, but both the Nakheel Tower and Jumeria Gardens have apparently fallen victim to growing unease in the Dubai market.

The Nakheel Tower, announced in October, was designed as the tallest building in the world, rising to more than one kilometer.

But the developers say construction on the foundation has been halted.

The Jumeira Gardens development, also announced during Cityscape in October, was designed as a self-contained “city within a city,” including canals, islands and wide variety of uses, however, the US$95 billion development is also reportedly in limbo.

www.iht.com

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