List of projects currently on hold

The global financial crisis has caused a slowdown in construction in the UAE, and many developers have either cancelled or put their project on hold. Proleads recently reported that more than 50% of civil project in the UAE is currently on hold, worth a combined total of $582 billion.

Meed and Zawya have assembled a list of these projects, each valued at $500 million or more, that have been put on hold or cancelled. Below you will find the list sorted by the estimated cost

1. Nakheel Harbour & Tower ($38 billion) – Nakheel Corporation – On hold
2. Al Salam City ($8.2bn) – Al Rajhi Group/Tameer Holding – On hold
3. Asia-Asia Hotel ($3.27bn) – Tatweer – On hold
4. Al Salam City (Phase 1) ($2.70bn) – Al Rajhi Group/Tameer Holding – On hold
5. Dolphin City – $1.70bn – Emirates German Group – On hold
6. Western Region Aluminium Smelter Power Plant ($1.5bn) -Abu Dhabi Water & Electricity Authority – On hold
7. Nad El Sheba Race Course ($1.3bn) – Meydan LLC – Cancelled
8. Mina Rashid Redevelopment ($1bn) – Nakheel Corporation – On hold
9. Aqua Dunya (Dubailand) Phase 2 ($950 million) -Aqua Dunya – On hold
10. Aqua Dunya (Dubailand) Phase1 ($950 million) – Aqua Dunya – On hold
11. Investment Corp of Dubai ($817 million) – Investment Corp of Dubai – On hold
12. High Rise Boulevard ($817 million) – High Rise Real Estate – On hold
13. Anara – ($800 million) – Tameer Holding – On hold
14. Plaza Major (Jumeirah Village) ($800 million) -Tasees, Makaseb Holding, Ishraqah – On hold
15. Falcon City of Wonders (Dubailand) ($680 million)- ETA Star – Cancelled
16. Atrium Project ($654 million) – Sunland Group – On hold for redesign
17. Palm Deira: mixed-use building project ($600 million) – Nakheel Corporation – On hold
18. Palm Trump Hotel & Tower ($600 million) -Nakheel Hotel & Resorts and The Trump Organisation – On hold
19. The Vantage ($545 million) -Cirrus Developments LLC – On hold
20. Light Rail & Tramway (Dubai Waterfront) ($500 million) -Nakheel Corporation – On hold
21. Rotating Tower (Jebel Ali) ($500 million) – Merjen Group – On hold

Further Reading

« Nakheel’s Marina Residences set for handover from April | Emaar reported Dh1.77bn loss in fourth quarter of 2008 »