$5.4bn Ajman project could be halved amid downturn
by Andy Sambidge
Monday, 31 August 2009
PROPERTY DOWNTURN: Ajman's real estate sector has been hit by the impact of the global slowdown. (Phot0 for illustrative purposes only)Most investors in the AED20 billion ($5.4bn) Awali City project in Ajman have stopped payments for the past eight months, it was revealed on Monday.
The project is likely to be resized by up to half its original size as the global economic crisis continues to impact, master developer Awali Real Estate Investments said.
"There are 136 plots of land and all had been sold at the time of launch. Most of our investors have stopped paying us for the past eight to nine months and so we are in talks with every one to find out their plans," said Amal Amir, sales and marketing manager, Awali Real Estate Investments, said in comments published by Emirates Business.
exactly like esskay, NOTTTTTT!
they are calling their customers to find out their plans!!
to this day, esskay refused to call or take any corrective measure.
MOTHER OF ALL SWINDLERS IS
MOTHER OF ALL SWINDLERS IS AL-RASHED REAL ESTATE.
This psycho was so called master developer and has about 12000-15000 customers.