Dubai

Buyers Upset at Contract Changes

Buyers of The Torch, a Select project in the Dubai Marina, have been told they will not have access to their apartments unless they sign a new contract, The National reports. Select started handing over apartments earlier this month, and now buyers must agree to controversial changes to the original... 

MAG 218 Ready For Handover

The MAG 218 residential tower, built at a cost of AED450 million and consisting of 555 apartments spread over 66 floors, is now complete and ready to be handed over to residents following the official opening ceremony yesterday (Saturday 15 May). Commenting on the handover, Mohammed Nimer, CEO of MAG... 

Dubai may seize properties

The Dubai Land Department may begin seizing off-plan properties whose owners are in default. The authority has started notifying investors who have defaulted that if they fail to make their outstanding payments within two weeks that 40 per cent of any money they have paid so far will be confiscated,... 

Nakheel offer investors in Palm Jebel Ali more options

Close to 700 investors in Palm Jebel Ali have expressed their dissatisfacion with Nakheel’s offer of alternative properties and have announced plans to bring lawyers into the matter. Nakheel recently received US$9bn (Dh33bn) from the Dubai Government to revive stalled projects and settle debt,... 

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... 

Monthly progress report for every project in Dubai

The Real Estate Regulatory Authority of Dubai (RERA) will publish monthly status reports on every single project in Dubai on their website, starting next week. So far, 875 projects are listed with RERA, and Marwan Bin Galita, chief executive of RERA, hope this initiative will comfort investors in these... 

Rose Tower

Located on Sheikh Zayed Road, Rose Tower by the Abbco Group boosts 333 metres (1094 feet) in the air. Spread across its 72 storeys, you will find laundry facilities, a business centre, car limousine rental, 480 studios and suites, a fitness centre and a swimming pool. Rose Tower was originally to be... 

Residents require greater transparency on maintenance fees

Residents are calling for greater transparency over how money is spent on the maintenance and upkeep of apartments. Laws regulated by Dubai’s Real Estate Regulatory Authority (RERA) say that homeowners should be able to monitor how service charges and maintenance are being spent by participating in...