Tameer Holding, a Dubai-based property developer, is 'reviewing' its construction contracts for the US$1.6bn (Dh5.87bn) Tameer Towers on Reem Island.

Sources close to the company said the developer was planning to cancel the construction contracts with Al Habtoor Engineering, Murray & Roberts and Al Rajhi Contracting. However, one option the company was considering was to hire the same contractors at renegotiated prices, the source said.

The National