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ARTICLE · 31 JANUARY 2011

Sympathy For The Developer

‘Please allow me to introduce myself, I’m a developer of wealth and taste...’ as Jagger almost said.

United Arab EmiratesReal Estate and Construction
Jerry Parks
Jerry Parks

'Please allow me to introduce myself, I'm a developer of wealth and taste...' as Jagger almost said. And with those words agents fell over themselves to market off-plan properties that investors bought and traded with dreams of easy riches. But as those dreams faded and the harsh economic realities set in, the tide of public opinion turned against developers who now stood accused of having stolen many a man's soul and faith.

The charge list included completion delays, payments not linked to construction, hidden charges and moving of goalposts on issues like visa entitlement. Shocking. But are we right to paint the developers as the villains of the piece, or should we have some sympathy for these devils?

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