Cancelled and delayed UAE projects

Cancelled and delayed UAE projects - the full list

CW staff , February 8th, 2009

The following table, as compiled by the HSBC Global Research division, lists a total of 59 projects, eight of which have been cancelled, with the remaining 51 listed as on hold. The list is in order of project value, with the most valuable – the Nakheel Harbour and Tower – at the top. More projects are expected to be placed on hold in the coming months. The list only covers official announcements.

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Announced project cancellations and suspensions in the UAE
Project	Value (US$mn)	Client	Status
Nakheel Harbour and Tower	38,000	Nakheel	On hold
Al Salam City	8200	Al Rajhi Group, Tameer Holding	On hold
Asia-Asia Hotel	3270	Tatweer	On hold
Al Salam City (Phase 1)	2700	Al Rajhi Group, Tameer Holding	On hold
Dolphin City	1700	Emirates German Group	On hold
Western region Aluminium Smelter Power Plant	1500	Abu Dhabi Water and Electricity Authority	On hold
Nad El Sheba Racecourse	1300	Meydan LLC	Cancelled
Redevlopment of Mina Rashid	1000	Nakheel	On hold
Aqua Dunya (Dubvailand): Phase 2	950	Aqua Dunya	On hold
Aqua Dunya (Dubvailand): Phase 1	950	Aqua Dunya	On hold
Investment Corporation of Dubai (ICD)	817	Investment Coprporation of Dubai	On hold
High Rise Boulevard	817	High Rise Real Estate	On hold
Anara	800	Tameer Holding	On hold
Plaza Mayor (Jumeirah Village)	800	Tasees, Makaseb Holding, Ishraqah	On hold
Falcon City of Wonders (Dubailand)	680	ETA Star	Cancelled
Atrium Project	654	Sunland Group	On hold (for redesign)
Palm Deira: Mixed-use Building Project	600	Nakheel	On hold
Palm Trump Hotel and Tower	600	Nakheel, Trump Organization	On hold
The Vantage	545	Cirrus Developments	On hold
Light Rail and Tramway (Dubai Waterfront)	500	Nakheel	On hold
Rotating Tower (Jebel Ali)	500	Merjen Group	On hold
Tiara United Towers	480	Zabeel Investments, United Group Holdings	On hold
Dubai Exhibition City	450	n/a	Cancelled
Jumeirah Hills	450	Sama Dubai (Dubai Holding)	On hold
Esplanade	422	Muzoon Holdings	On hold
Cactus Theme	420	Nakheel	On hold
Lagoon Club Hotel and Residences	400	Tourism Development and Investment Co	On hold
Signature Towers (Business Bay)	400	Dubai Properties	On hold
DRI and Meltshop Plant	400	Al-Tuwairqi Group	On hold
Emivest - DSO - Towers	400	Emirates Investment and Development PSC	On hold
International Powers/Mitsui - Umm Al Nar RO Plant	350	Abu Dhabi Water and Electricity Authority	On hold
Replacement of Infirld Pipelines (Zakum Field)	350	Abu Dhabi Marine Operating Company	On hold
Desert Gate Hotels and Towers	350	Bawadi	Cancelled
X2 Towers	300	Al Odaid	On hold
Borouge - Melamine Plant	300	Abu Dhabi Polymers Company Ltd (Borouge)	On hold
Ain Al-Fayda	300	Al Qudra Real estate	On hold
Sharjah Sports City	250	Government of Sharjah	On hold
Tatweer Towers	250	Mizin	On hold
Dubai Healthcare City - Phase 2	235	Tatweer	On hold
Forbidden City	222	Nakheel	On hold
Residential Towers on Plot 39	210	Emaar	On hold
Porsche Design Towers (Business Bay)	200	Dubai Properties	On hold
Pilkington Emirates - Float Glass Factory	200	Pilkington Emirates	Cancelled
Sienna Square	150	Cirrus Developments	On hold
Sea Gull Tower	145	East & West Properties	On hold
Image Residences	137	Al Fara'a Properties	On hold
Canal Point	136	Istithmar	On hold
Seascape Topwer	135	East & West Properties	On hold
Dubai Marina - Ice Tower	130	Mada'in Properties Abyaar Real Estate Investment	On hold
Waters Edge (Busienss Bay)	125	Damac Properties	Cancelled
Mina Rashid - Mixed-use Tower	110	Azizi Investments	On hold
West End Tower 1 and 2 (Jumeirah Village South)	110	Al Rashid Investments	On hold
Business Bay - Burjside Boulevard	100	Damac Properties	On hold
Dolphon Towers	100	Damac Properties	Cancelled
West Bay Tower (Business Bay)	88	Snasco, International Investment Bank	On hold
Al Odaid - Palm Tower	80	Al Odaid	On hold
Nadra Tower (Business Bay)	70	Tamweel	Cancelled
Jumeirah Village - Green Park	50	Damac Properties	On hold
Palm Island Hotel Resort	50	Al Fardan Group	On hold
Source: HSBC Global Research