The local Tameer Holding has become the latest developer in Dubai to shelve a major project, by putting its 125-storey Anara tower project on hold.

The building was to have been used as Tameer’s headquarters, and the developer had intended to use the development’s design as a blueprint to build tower developments in all major cities in the Gulf (MEED.com).

The tower was to be built on the site of the recently demolished Palm Hotel and the still existing Hard Rock Hotel on Sheikh Zayed road. The project involved the construction of a mixed-use tower, with serviced apartments, penthouses and a small retail area, in addition to the Tameer office space.

Several companies were approached by Tameer to build the tower, including the local Arabtec Construction, Lebanon’s Arabian Construction Company, the local/South African joint venture of Al-Habtoor Engineering Enterprises and Murray & Roberts Contractors (Middle East), and the local/Australian Nasa Multiplex. UK-based Atkins designed the tower. US-based Morganti Group is the project manager.

No reasons have been given by Tameer for the suspension.

The scheme is the latest in Dubai to be delayed as the market weakens. Among other projects affected, the local Muzoon Holdings has suspended construction work on the AED1.55bn ($422m) Esplanade scheme in Al-Barsha, Dubai.

Construction work has also slowed down on the World Trade Centre redevelopment by the client, Dubai World Trade Centre. The local Alec was awarded the AED3.4bn contract to build the first phase of the redevelopment in May.