About 70% of buyers in projects delayed by Deyaar Developments, Dubai’s second largest developer, have moved their investments to projects under construction, the firm’s chief executive said.

Buyers who bought offplan units in projects including Deyaar Park, Mirar Residences and Deyaar Enclave have transferred their investments to projects in Business Bay.

The consolidation was part of Deyaar’s strategy, unveiled earlier this year, to reduce the risk of defaults and their effects.

The National