Madinat Souk Jumeirah is near Jumeirah Beach Hotel and Burj Al Arab.
Dubai’s Palm Jebel Ali, the second of three palm islands off the coast of the emirate, may be delayed and is revising check schedules for house traders as a result. Recently, some 400 home buyers petitioned the developer to reschedule payment strategies because their villas are likely to be delivered several years later than initially planned.
The Dubai Real Estate Regulatory Authority has submitted revised strategies for payment, even though the developer Nakheel has not however verified individuals. Nakheel stated in a statement: “Nakheel works closely with RERA, as it does with all industry-related partners, to assist preserve a healthy marketplace below the existing conditions.”
“Nakheel appreciates RERA’s efforts and initiatives aimed at protecting the interests of all parties involved.”
Traders were informed in January that the property wouldn’t be prepared for move-in till 2012, although the initial plans called for handover in June of 2008. Land reclamation on the island is complete and infrastructure function is currently under way, though construction on the villas has yet to begin.
