Developers unable to complete their projects in Marmooka City are hoping to trade their land for credit notes from the Ajman Government.
The credit notes would allow them to buy other properties controlled by the Ajman Real Estate Investment Establishment, the governmental master developer of Marmooka City, or to refund investors.
More than 900 towers have been launched in the past two years in Ajman, although few have been completed.
'There is no doubt that we are going to support the institutions that have suffered,' Sheikh Hamdan bin Zayed, the Deputy Prime Minister, said at Cityscape yesterday. 'But we are not going to support those who have been reckless in the beginning with their policy of investment.'