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Saraya halts sales of RAK project PDF Print E-mail
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Tuesday, 01 September 2009 23:22
Omar Agha, Managing Director of Saraya Development Group, has said the company has temporarily suspended sales of its $1.4bn project in Ras Al Khaimah due to lack of availability of electricity and a downturn in real estate sector, Emirates Business has reported. Saraya has neither cancelled the project nor put it on hold indefinitely, he noted. The developer has given a 100% refund to all its investors in the project, he added.