![]() ![]() “I was on vacation in Dubai, walking in a shopping mall and I see a beautiful scale model of nice apartments around a big tower, “the new spot for tourists in Dubai after the Burj Khalifa”. The development conglomerate Emaar Properties has recently refunded an investor, who invested in properties in Dubai Creek Harbour based on the understanding that the property would offer views of the Dubai Creek Tower.Īnd one of the investors confirmed that Emaar refunded their property purchase in July 2021. ![]() ![]() Emaar refunds real estate investor over Dubai Creek Tower project The government entities decided to stop new developments almost a year back, but Covid definitely put the brakes on,” Bloomberg mentioned at the time. In 2020, Emaar’s founder and then chairman Mohammed Alabbar also confirmed that they halted several new developments. The reason behind this was the major blow from the COVID-19 pandemic. Emaar halted constructionĪ Reuters report mentioned in 2020 that the premier developer “ Emaar” had to suspend work on the tower along with several surrounding residential projects. The project also promises to offer majestic views of the waterfront and the Dubai Creek Tower – the world’s future tallest building. Harbour Gate Tower is a residential community designed in Dubai Creek Harbour offers a tranquil lifestyle to its potential residents. However, the practice is still continued by a number of real estate brokers in Dubai that several real estate projects planned in Dubai Creek Harbour are still advertised to have mesmerizing and panoramic views of the Dubai Creek Tower. Though Emaar has yet to officially comment on the status of Dubai Creek Tower yet the development company has removed all the mentions and rendered images of the tower on its official website. The construction of Dubai Creek Tower was suspended in 2020 and even two years later, there has been no indication to restart construction. It is considered the main focal point of Dubai Creek Harbour a symbolic icon of Dubai’s futuristic and visionary leadership. Dubai Creek Tower – Emaar’s controversial projectĭubbed the “Icon of the 21 st Century”, Dubai Creek Tower is advertised to be a spectacular tourist attraction. A majority of these property buyers search local online property portals to check for properties for sale in Dubai. Therefore, Dubai real estate attracts a significant number of foreign investors from all over the globe.Īnd right after the global pandemic, strong demand has been observed for luxury properties in Dubai from foreign investors. Dubai is a thriving megalopolis and unquestionably a destination of the future where you can find magnificent structures, intriguing developments and the world’s most iconic structures. From the world’s tallest building to the world’s largest shopping mall – this city takes the challenge and loves to surpass expectations. In Dubai, everything is bigger, better and finer. ![]()
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