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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Deyaar plans to drop Flamingo Creek project

Posted on 17 August 2010

From Thenational.ae: Deyaar Development, the publicly traded property developer, is planning to abandon a Dh372 million (US$101.3m) project because it believes the master developer Sama Dubai is unlikely to complete the infrastructure. The scheme is 50 per cent owned by Investment Corporation of Dubai.
Deyaar said the project was Flamingo Creek, launched by National Bonds in The Lagoons, a planned Dh80 billion development of towers that were to have been built around Dubai Creek……………………………………….Full Article: Source


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