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Dubai Properties Group (DPG) has said it will restart all mega projects previously stalled or delayed during the global economic crisis
The developer made the announcement after claiming to have seen the reemergence of investor confidence in the emirate’s property market.
Speaking to UAE daily Khaleej Times, DPG chief executive Khalid Al Malik said, “We are more focused and determined now and have in place a clear roadmap to restart all projects that were put on hold.
Al Malik stated that the group would announce by the end of 2012 the delivery details of the previously-held projects.
“Both the Remraam and Bay Square projects are in the delivery stage and Business Park is in the planning phase,” he noted.
“DPG is focused on continuing to finance and develop projects announced earlier in our destinations like Dubailand and in enhancing the environment in Jumeirah Beach Residence and Business Bay.”
The property sector was one of Dubai’s hardest hit industries during the financial crisis, but DPG’s announcement will raise hopes that the sector is now close to undergoing a long-awaited revival.