Merwiss Azizi, founder and chairman of Azizi Investments, said: "All of the projects that we have announced, we will deliver."

Azizi also stated that although Dubai and Dubai developers were being impacted by the current global economic downturn, he believed its strong fundamentals meant that it would suffer less, and for a shorter time, than any other market.

"Dubai's ports, its infrastructure - including the best airlines and largest airport in the world - and most importantly the safety and security it provides means it has a great future ahead," said Azizi.

He also said the company was committed to helping any buyers - whether investors or end users - who may be experiencing problems in the current economic climate.

Flexibility

"It is our goal to be flexible, to help buyers affected by the current situation," he said.

"Because we know that this situation will change. We are not here to make people's lives harder, and we know that Dubai will recover quicker than other markets."