Browse related articlesA third of tourism projects in UAE may be cancelled
United Arab Emirates: Thursday, December 04 - 2008 at 08:10
One-third of the tourism projects being planned in the UAE will be cancelled because of the increasing difficulty of financing these projects, reported The National, citing Alex Kyriakidis, the global managing partner of tourism, hospitality and leisure at Deloitte. Of the remaining projects, a third will be delayed and only a third will be delivered on time, he added. One of the major reasons that these projects will be delayed or cancelled is because banks and investors still regard these projects as being part of the real estate industry, 'which is not doing very well now', he added.
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Jeff Florian, Senior ReporterThursday, December 04 - 2008 at 08:10 UAE local time (GMT+4)
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