Emaar's 29 Burj Blvd project delayed two years

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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.”

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.