The chairman of the $2.7bn Meydan City project said on Monday that some plans for the development have been deferred.

The full Meydan City masterplan consists of the world’s largest racecourse, together with a grandstand, hotel and training area, the ‘Metropolis’ business district, the ‘Horizons’ residential component and the Godolphin Parks district, also largely residential.

“We are happy where we are,” Saeed Humaid Al Tayer, chairman of Meydan Group and chairman of the Emirates Racing Association

“We have focused on the business park, Horizons and the grandstand, racing district and hotel zone, and we shall monitor the other phases that are still offplan, and those that have not been officially launched.

“We had various plans that we have elected to defer a little bit, but a majority of these zones are well under way and we are working with the investors.”

The Meydan chairman also remarked that the first phase of the business park was “a matter of timing”, and added that the developer owed the completion of that project to investors.

When asked when investors in the Meydan project would see a return on their money, Al Tayer indicated that the master developer had not issued a timeline to its partners in the project.

“Most of our investors, I would say, have acquired land, and we are working with them to establish when they will develop,” he said. “I would say 25 percent of them have gone through the process after receiving approval from the authorities, but the decision as to when to tender and start building is their choice – we’re not going to put a timeline on them.”