Alternative Capital Invest Real Estate, the troubled German-owned developer behind projects such as the Boris Becker, Michael Schumacher and Niki Lauda towers, says it will put on hold its developments on the Dubai Waterfront and shift investor holdings to other assets.

Affected projects include the Ferretti and Pershing towers, which have yet to begin construction. The company said it would shift client’s investments in these developments to its towers in Business Bay, which consist mainly of the towers linked to prominent German sport figures. The Becker, Schumacher and Lauda towers are currently under construction but running significantly behind schedule.

The National