Robin Lohmann
, the managing director of
ACI
,
is in crisis mode as his company buckles under the strain of the economic downturn
that is hitting developers across the country. "His ventures on Nakheel's Waterfront development, which he says have left him, his group and partners high and dry to the tune of AED800m ($217.8m), have completely stalled. Accusations and counter-accusations are coming faster than
Schumacher
in a Ferrari," Anil Bhoyrul and Alex Delmar-Morgan report in Arabian Business.
Bawadi Mall
in Al Ain
has removed its ban on construction workers from entering on weekends
after The National reported on the affair and readers wrote in to complain.
Human Rights Watch
applauded the move and said that "The whole issue of shopping malls is symptomatic of a much larger problem in the way labourers are treated and viewed."
The Real Estate Regulatory Agency (Rera) is cracking down on unlicensed property brokers
, Parag Deulgaonkar reports in Emirates Business 24/7.
Shop rents are rising in the UAE by as much as 20 per cent, even as sales are on the decline
, Armina Ligaya reports in The National. One retailer said turnover had fallen by as much as 35 per cent. You can see the aftermath of this around Dubai, with more spaces changing tenants.
