The emirate of Dubai is preparing to develop 220 residential projects this year, according to a source based there.
“We have 220 projects (that are) going on,” said Marwan bin Ghalaita, Chief Executive of the Real Estate Regulatory Authority (RERA). “We have evaluated projects and those are moving forward.”
“Any project that is not good for investors will not go on. We are evaluating all the projects now.”
Mr. Ghalaita declined to confirm how many projects have been cancelled.
In December, Mr. Ghalaita said that RERA had cancelled 115 projects that existed only as architects’ drawings and “less than 10” projects had been started.