Arabian Business has reported that there are still problems with the funding for the al Sufouh Tram project as the RTA tries to ramp up the construction on the project that has been on hold for a while.
In 2011, after the completion of the Dubai Metro green line, the focus changed to getting the tram project completed. The original completion date was scheduled to be in 2011 but after all the financial problems around the world the project went on hold.
It is still early days in the financial recovery of Dubai and so financing of the project is still tentative. For the full Arabian Business report, see here.