It is understood that the decision affects projects at Dubai Marina and the Burj Dubai development, but not the Burj Dubai tower.
According to contractors, all materials that have been delivered to the site will be used, but no fresh orders will be placed. When the current stock is used up, work will stop.
Emaar says it is seeking cheaper deals. No date has been given to restart procurement.
“Emaar Properties is in discussions with our contractors and consultants regarding the procurement strategy to achieve potential cost savings gained from the decline in the price of raw materials globally,” says an Emaar spokesman.
“This is part of our strategy to take advantage of opportunities [that have] arisen as a result of current global economic conditions.”
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