Dubai builders are in talks to slow down the pace of construction on many contracts to give developers more time to raise finance and avoid having to make more drastic adjustments to their plans.

The move follows at least five years of break-neck construction during which contractors grappled with tight and, in some cases, unrealistic deadlines.

With the sector slowing as new projects are delayed or cancelled because of a lack of credit, contractors are trying to extend existing contracts to allow developers more time to find funding.

The National