Dubai developers’ stands get shut down in Jeddah
Saudi officials did so preemptively stating they were selling off-plan Dubai projects directly
Dubai: Officials from Saudi Arabia’s Department of Trade and Commerce shut down the stands of some of the biggest names in Dubai’s realty market at the Cityscape Jeddah event earlier this week, industry sources have confirmed.
The apparent reason for the move was to prevent sales of any off-plan property in Dubai to Saudi investors, according to a source who was present in Jeddah over the last three days.
“As per the organiser’s requirements, which is what is followed at Cityscape Global in Dubai, no exhibitor is allowed to have direct sales ... but they can promote their projects,” said a source.
“Dubai’s developers and other exhibitors from here were not selling and following the regulations to the letter. It’s inexplicable as to why this happened. It’s the first time in six years of the Jeddah event that something like this has happened.”
Gulf News is in touch with the organisers of the show to get their version of what happened.
