The Real Estate Regulatory Agency (RERA), Dubai’s real estate watchdog, said that it is in the process of financially reviewing about 90,000 real estate units. There project would be tested on their viability before they actually delivered in the market.

Marwan Bin Ghalaita, the CEO of the body said, “We are reviewing more than 90,000 units that will come to the market from today to 2016. Some people do not like the word cancelled, they keep saying delayed, delayed, and delayed. Sometimes we have to face the truth and if a project is not good for Dubai then we have to admit and say it is cancelled.”

Global financial crisis adversely hit the real estate market of Dubai. Many projects were either cancelled or put on hold by developers amid cool sentiments prevailing in the market. Branded developments such as Dubai Properties' Tiger Woods felt the heat of global financial crisis that hit the world in 2008.

Ghalaita said Dubai has been making rules tough for the real estate sector and people have started to reestablished faith in Dubai’s real estate segment.