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Damac Dhs55bn project faces cancellation
- United Arab Emirates: Sunday, August 16 - 2009 at 11:13
Herish Muhamad, the chairman of the Kurdistan regional government's board of investment, has said the government was 'facing some difficulties' with Dubai-based developer Damac properties over its Dhs55bn ($14.97bn) Tarin Hills project in the region because 'nothing has started on the ground' and that the project could be cancelled, The National has reported. 'Damac has taken the sensible step of reviewing the construction timetable with a view to rescheduling some projects,' Niall McLoughlin, a spokesman for Damac has said. 'It simply makes good business sense for us at this time to focus on those construction sites where we are at a more advanced stage.'
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StaffSunday, August 16 - 2009 at 11:13 UAE local time (GMT+4)
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