Al Zorah could be delayed

According to ArabianBusiness.com, development of the Al Zorah-project in Ajman could slow down and push back the city by two years. This could be a sign that the global financial crisis has hit one of the largest developments in the UAE, as investors could hesitate buying into the project.

A two-year delay in Al Zorah would mean that the entire city will be finished within 2025. The project was initially launced in May at an estimated cost of $60bn. The joint venture between Solidere International and the government of Ajman has recently acctracted numerous potential buyers, and UAERush.com will follow this project closely.  Sign up for our newsletter on top of this page to receive the latest real-estate news from the UAE.