Emirate restarts 43 projects worth over AED10b

With Dubai's revival well on its way, the Dubai Land Department has begun restarting many of its stalled projects from the recession. At least 43 stalled projects worth over AED10 billion have been revived by the Dubai Land Department (DLD) through two of its real estate project revival initiatives, a senior DLD has revealed.
“We have facilitated takeover of 39 projects valued at AED10 billion by various developers under our Tanmia initiative,” Duaa Issam Dablan, senior deputy director, Dubai Land Department, said addressing a real estate seminar last month. The DLD, through Tanmia initiative, provided funding for four projects, she disclosed.
“We arranged funding for another four projects under our programme,” Dablan said, bringing the total to 43. Forty-five projects have been registered under the scheme.
In July 2013, Majida Ali Rashid, chairwoman of the Real Estate Investment and Promotion Centre, had told Emirates 24|7 that DLD was studying 158 projects that could be revived through its real estate initiatives.
“We have registered 45 projects under Tanmia and another 45 under the Tayseer scheme. We are currently studying another 158 projects,” she said.