Credit notes? What credit notes?

While developers keep mum on the thriving market for credit notes in Dubai and increasingly Ajman and Ras Al Khaimah, Crane Country presents the first complete list of projects where these transactions can take place.

Quick definition of credit notes

: Many buyers can't or do not want to pay their next instalment and want to get out of their property investments altogether. Meanwhile, opportunistic investors and people who bought at the peak are interested in buying these "deposits" - which is basically just cash tied up with the developer - at a discount. This way, the seller can recover some of their money and the buyer can reduce the cost of their own purchases.

Developers gain from these transactions, too, particularly if they want to cancel a project. They can carefully decide which projects they will accept credit notes from so as to increase the emptiness of the building and make it easier to refund the remaining buyers when they cancel it.

* Hat tip to Nathalie Gillet for the latest on this.

Check out the full list after the jump ...

- Mushrif Heights

- Warsan

- Claren 2

- 18 Boulevard

- Bawadi

- Burj park2

- Burj Park5

- Furjan 2

- Venito 2

- Dubai Promenade

- Trump Tower

- Jumeirah Village

- Some sections of Waterfront

- Badrah 2

- Lake District D and E

- Mina al Rashid

Nakheel is also allowing similar swaps for land from these plots:

Mina al Rashid plot

Jebel Ali Crescent plot

Jebel Ali Village plots

- Marmooka City

- Awali City (pending)

- Dana Island

- Marjan Island