Deyaar, a Dubai property developer at the centre of an investigation into alleged embezzlement, said it had agreed to drop plans to develop a real estate project in India.
In November, Deyaar, Dubais second-largest property developer by market value, said it expected to finalise a $5 billion agreement to build a township near Delhi with Indias Ansal Properties and Infrastructure Ltd.
An initial agreement with Ansal to work together had been cancelled by mutual consent, Deyaar said on Wednesday in a statement on the Dubai bourse website. It did not explain why.
More : tradearabia.com
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