NewsMeraas reviews $95bn Jumeirah Gardens
Meraas is currently reviewing the $95bn property project Jumeirah Gardens in the Satwa district. According to a spokesperson, Meraas is reviewing their business strategy, as well as the phasing and rollout of the Jumeirah Gardens. More details will be clarified at the start of next year, but this could mean that Meraas are reassesing their project due to the global financial crisis.
Jumeirah Gardens was officially launced at Cityscape Dubai in October this year, and has received huge interest from all over the world ever since. The project will consist of seven distinct areas, and originally scheduled to be completed within 12 years.
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Meraas Development has announced it will be “reviewing” its business strategy for Jumeirah Gardens because of changing investor needs. Didn’t they notice that investor needs were changing when they launched two months ago?