What are the key factors that would enable developers to restart projects put on hold?
IJ: The problems here started off with the crisis in the world economy. Therefore, it is very important that the world economy recovers for the construction sector in the UAE and the GCC to improve again. An increase in oil price and revenue will automatically result in more liquidity in local banks. Once the banks start lending again, we can expect developers to start resuming construction on projects that have been cancelled or put on hold because of lack of finance. DS: An improvement in property prices, combined with the subsequent boost in consumer sentiment that this would provide would help. Easier access to finance for both developers and consumers would be an advantage. NG: There are two critical factors that need to be addressed: the availability of end-user finance and developer access to finance for construction purposes. These are vital to the ability of developers to restart projects, and will ultimately restore confidence in the market in the long run. Master developers
