Emaar's 29 Burj Blvd project delayed two years

Burj Boulevard is part of Emaar's Downtown project.

MORE ON EMAAR: How the Burj was built; Jeddah Gate slowly moving; Emaar calls for KSA mortgage law; Emaar ME awards BCC Saudi contract; Six projects that didn't make it

Emaar’s two apartment towers at its 29 Burj Dubai Boulevard project will suffer a two year delay.

According to a report by newswire Bloomberg, the developer sent letters to buyers informing them of the delay while stating February 2012 as the new completion date.

In a statement sent to Construction Week, Emaar said the project was “in varying stages of development from initial start-up phase to handover.”

Story continues below

Advertisement

FEATURED COMMENT You cannot continue to have supply over demand and believe that people are gonna buy it.You have to roll with the impuls   4 Comments Read more comments »

It also said that it was “currently negotiating with the contractors to achieve reductions in construction costs, which are being adjusted in the pricing of some projects.

“Customers have been informed of these negotiations. Additionally, we are working with them on an individual basis, offering them flexible payment solutions.”

The 29 Burj Dubai Boulevard includes two 45-storey buildings, designed by New York-based Frank Williams and Partners Architects.