Emaar and investors meet to discuss delayed projects

Emaar Properties and representatives of 380 investors of two delayed projects plan to meet, Meed has reported. The investors of Claren One and Burj 29 Boulevard are threatening legal action against Emaar over the two residential projects, worth over $760m. Emaar recently announced that Burj 29 Boulevard,... 

Kempinski Residences at Palm Jumeirah ready for handover

Luxury units at Palm Jumeirah are ready for handover within next month. The Kempinski Residences, developed by Emerald Palace, comprises 260 private residences, townhouses and penthouses, including 20 grand villas set within the hotel’s landscaped grounds. More than 240 residential units were sold... 

Khoie says La Hoya Bay-investors can claim refund

Khoie Properties arranged a meeting on Friday at their office in Dubai for investors in La Hoya Bay. Investors in the much delayed project have experienced multiple delays, rumours about an insolvent developer, the CEO being placed in jail and the project being taken over by the Government of Ras Al... 

Buyer awarded refund for off-plan investment

An investor in the Niki Lauda Twin Towers in Dubai was recently awarded a refund by Dubai Courts. Ron Oakley, a British investor, bought two units in the off-plan project launched by the german developer, ACI, in late 2007. In March 2009 he filed a lawsuit against ACI, trying to recover his investments... 

Buyers in Ivory Towers fear money is gone

The much-delayed Ivory Tower in Dubai has come yet another step closer to cancellation as development has stopped and consultants are called back to Sokook’s offices in Deira. The tower is nearly two years behind schedule and buyers now fear their investments is long gone and never to be seen again. Ivory... 

Kid bought villas worth $44 million in Dubai

Even by the standards of a city that celebrates extravagance, it was a spectacular shopping spree: In just two weeks early last year, an 11-year-old boy from Azerbaijan became the owner of nine waterfront mansions. The total price tag: about $44 million — or roughly 10,000 years’ worth of...