Damac project now back on track
United Arab Emirates: Thursday, April 10 - 2008 at 10:13
UAE-based property developer Damac yesterday said its Haz Tower project in Dubai's Business Bay is back on track following complaints by investors, reported Gulf News. After learning that the developer had planned to cancel the project, around 10 investors yesterday met officials at the Land Department to complain against the company. Following the meeting, Niall McLoughlin, senior vice-president of corporate communications at Damac, said the project is 'definitely going ahead'. This latest showdown arises just a week after Damac came under fire for cancelling the Palm Springs project on the Palm Jebel Ali. Damac, the largest private sector developer in the UAE, has launched 80 projects but handed over only two so far.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 10:13 UAE local time (GMT+4)
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