Developers Cash Flow Problems Is Good News For Investors Of Dubai Property

Usually when Dubai developers suffer, Dubai investors are then forced to feel the effects too. However this week has seen the unusual situation, where a Dubai developer’s problems have ended up resulting in a positive situation for property buyers! In what some are calling a wise move giving tough market conditions currently being experienced, and others are calling a move of desperation, developer Deyaar has taken drastic action in order to help the firm get around its current cash flow problems. Dubai real estate developers have been hit badly of late, with the property downturn, low investor confidence, difficulty obtaining funding, and recently a range of new legislation and laws being implemented by the Dubai Real Estate Regulatory Agency (RERA). All of which has added up to a difficult working environment for Dubai’s developers and Deyaar has proven no exception.

With Deyaar having cash flow problems the company has taken strong measures as it attempts to succeed in these tricky times. It has started with cutting property prices 30% in order to tempt buyers. But it has not just stopped there! The company is also going out of its way to help buyers make payments and stop them defaulting. It is rearranging payment schedules, to make payment as easy as possible for its customers. This is in itself is quite novel for a Dubai developer, but Deyaar have gone even further in an attempt to be fully flexible to buyers needs. They are offering buyers the options of downsizing their apartments by some 50%, and exchange a larger property for a smaller one if their financial situation dictates they need so. Deyaar are even allowing buyers to play swap with apartments, swapping their current Deyaar apartment for another apartment at a Deyaar development! Quite good news for investors of Dubai properties I think you will agree?

The company has recently been forced to cancel a number of projects, but has offered investors in the projects full refunds. Despite the cancelations, the company maintains it will remain profitable in 2009, and insists that it is only cash flow where it is struggling at the present time. Either way, I’m sure the customers who benefit from this new found generosity won’t be complaining!

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