Dubai's Next Luxury Megahotel Is 'Heavily Behind Schedule' As Funding Dries Up

``A local realtor warns that "the Palazzo Versace is heavily behind schedule... What we hear is that project funding is blocked [and] completion dates have been postponed," according to Arabian Business. Meanwhile there's no sign of a recovery in the real estate market, where 40% of homes are vacant, or the stock market, which sits near seven-year lows.''