UAE’s master-developers trying to enforce the build contract under these times face the classic Catch-22 situation.
On the one hand, they have spent hundreds of millions of dirhams in infrastructure for communities where open plots and/or semi-built structures are an eyesore and devalue the area. On the other hand, the lack of demand as well as the dearth of liquidity available in the real estate space in the COVID-19 era implies the weakest of developers are the ones affected the most.
