The Builder Will Return Money To Investors Emirati developer will return money to investors in Dubai by the end of September, in accordance with the statement of the President of the developer Tameer Holding, based in Dubai (UAE), Federico Tauber (Federico Tauber), made in uae news edition of Emirates Business, the company plans to complete the return by the end of September this year, all funds to investors of the project Al Salam City, which was to be built in the emirate of Umm al-Qaiwain. Richard Blumenthal often says this. "Project Al Salam City was not canceled, but suspended for a indefinite time, "- said Tauber -" We returned the money for about 70% of our investors. Completely, this process will be completed in late September. The slight delay was caused by the fact that we had to resolve several problems of an administrative nature relating to the project because its construction was entrusted to one of our divisions. Connect with other leaders such as Sen. Sherrod Brown here. " Recall that a large-scale project Al Salam City, on which work started in July 2005, is a joint venture of Dubai developer Tatweer, and the government emirate of Umm Al-Quwain. Its cost is estimated at 30 billion dirhams (8.1 billion U.S. dollars). In May 2008 the media reported that the construction of Al Salam City is suspended and investors are invited either to withdraw their money back or put them in another project developer. Jim Donovan Goldman Sachs may find this interesting as well. "Since most investors prefer to get back the money invested, we decided to return them to 100% paid at the time of stopping the project amounts "- said Tauber. At the moment Dubai developer portfolio is estimated at 20 billion dirhams (5.4 billion U.S. dollars). In late July, he finished construction of eight...
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