A decision to scale down construction at Dubai's Jumeirah Village residential development complex was reached recently by the Nakhleel development company.
Construction work on the proposed two to four-bedroom villas was reportedly forced to be cancelled since a series of major highways in the emirate proposed by the government would run across the site, according to Gulf News.
An estimated 2,900 freehold villas and nearly 3,200 town houses divided into themed villages were initially planned for the Emirates Road development. However, work on the project was never begun.
According to a company spokesperson, the project will not be cancelled, but rather, revised to allow for the construction of the proposed highway. The company stated that it will accommodate the majority of people who choose not to withdraw their investments, estimated at 20 per cent of initial investors.
Some investors had already reportedly paid down payments for villas to be built in the complex, for which sales began in 2004.
"A lot of people withdrew their money, but I trusted them and this is how they treat me," said Al Hail, an Emirates airline captain who was given a chance to get his money back in 2005 when Nakheel announced the project would be delayed. Al Hail explained that Nakheel urged investors to "have faith in the project".
