Feb. 4--DEYAAR TO FREEZE AT LEAST 25 PERCENT OF PROJECTS: Dubai-based developer Deyaar issued a statement today saying it plans to put at least a quarter of its projects on hold and offer customers more flexible payment options. 'The company will hold back the entire 25 percent of the portfolio that is unannounced and not released for sale,' Deyaar said. Projects that had been launched and sold will proceed as scheduled. Customers who own units in a development where construction had yet to begin or was in the early stages may transfer ownership to other projects that 'will be completed on a fast-track basis with the rest of the projects being phased out', the statement added.

UAE TO EVALUATE AMLAK, TAMWEEL MERGER: The committee headed by Economy Minister Sultan bin Saeed Al Mansouri will present its recommendations to the government by the end of February, according to a statement issued today. 'The ripple effects of the global financial meltdown have necessitated a renewed approach to the business models of Amlak and Tamweel,' Al Mansouri said.

DUBAI CONTRACTORS FACE BANKRUPTCY: A number of Dubai-based contractors claim they are owed millions of dirhams by government-owned developers and face bankruptcy as credit remains tight and projects are cancelled, reports Reuters. 'There has been a marked increase in the number of contractors asking for help to obtain payment, including payments certified months ago on some of Dubai's largest projects,' Michael Grose, a partner at legal firm Clyde & Co LLP, in the Middle East Projects and Construction Group, told Reuters.

AL FAJER SELLS LAND WORTH $218M: Dubai-based Al Fajer Properties said on Tuesday that it sold land worth Dhs800m ($218m) as part of a restructuring process of the company. It did not reveal the period of time these sales were made. The company said it also had begun implementing new policies and procedures to bring them in line with Dubai's Real Estate Regulatory Authority (Rera) rules ensuring more market transparency.

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