Emaar and Nakheel deny issuing "credit notes"

For the past few weeks, a property broker called Salim Bandeali has been sending out e-mails to people across Dubai asking to buy up their "credit notes". He explained, and I quote, that " Nakheel & Emaar are issuing Credit Notes for their delayed projects" and that he had "few ready customers who are interested in buying it in discounted price".

When I asked Nakheel about this, a spokeswoman said on April 12:

It has been brought to our attention that at least one agent has been referring to the existence of 'Nakheel credit notes'.  We do not, nor have we ever, issued credit notes. We wanted to make it clear to existing investors and potential investors that they should beware of any companies or individuals referring to such items.

And just now, Emaar Properties sent out a similar message:

No projects launched by Emaar Properties are currently on hold. All the developments are progressing and in line with Emaar's strategy to complete all commenced projects. As part of our commitment to customers, we are currently offering several options including end-users having the option of transferring their purchases from projects that will be completed at a later stage to those in the advanced stages of development. Emaar has not issued or is planning any document that will enable customers to transfer their payment to others. Being a listed company, all matters of significance to the Company are made available in public domain on a timely basis to avoid any speculation. Any information in contradiction to the above relate to misrepresentation of the facts.

However, this seems to be contradicting statements made to Arabian Business last week by Naaman Attallah, chief operating officer of Emaar Dubai. Read that article here. Emirates 24/7 Business also reported Mr Attallah admitting the use of credit notes in a speech at the Dubai Property Society last week.

These credit notes seem to be a tricky topic. Does anyone have some more clear evidence that they exist?