Property Development Progress to go online

The last property crash in Dubai property market has caused investors with all sorts of problems, as property market crashes tend to do! But how Dubai has surpassed himself in this regard is the total lack of information regarding the current status of many developments under construction. Emirates currently has billions of dollars worth of property under construction, much of which now appears to have been put on hold, and in some cases canceled altogether! With the credit crunch begins to bite, and the demand for real estate collapse, many developers simply do not have the necessary capital to complete development, and even if they did, there are now many not be required to make it worth it! Some freehold property developments have been canceled, although there has already begun construction, such is the extent of the problem with the current world and local markets. It is a lack of information and clarity about the current situation really does not help investors. 

People have invested large sums of cash in Dubai property, but many have no idea what the current situation with their property now. With all the problems rumor, no one really has a clear picture of what is going on, which obviously is very frustrating! Last month a list up, which claimed to list all the developments in Dubai, which was canceled or that there was no longer running. The list, which featured some big name real estate development, sent shockwaves through the Dubai real estate industry. Listen, if correctly showed a much larger amount of property was currently on hold or do not go further than it had previously estimated. 

Trying to shed light on the current situation, Dubai Real Estate Regulatory Agency (RERA) launched an online program to allow investors to find out more, what happens to their development. This independent report, which must be completely independent, should go some way to help investors unwind. The data used to determine the construction progress will be collected by government engineers, and will hopefully provide clarity on what is currently creating a great deal of concern for Dubai property investors.