Why is Villamar project on hold?
The Villamar development was launched by a company called Gulf Holding Company, a Kuwaiti based company with mainly Kuwaiti shareholders, which successfully raised funding to launch the Villamar project, but fell short when the company decided to use those funds to launch several other projects and failed to continue raising sufficient funds to continue their aggressive plans. Basically, they ran out of money to complete the development.
