Commercial Dispute - AED 45 Million Settlement
The arbitration tribunal ruled in our client favor, dismissing 90% of the claima...
Real Estate - AED 8M Off-Plan Property Refund
Real Estate Law
Amount Involved:
AED 8,000,000
The Problem
A group of 15 investors had purchased off-plan apartments in a Dubai development with promised handover in 2020. By 2023, the project was only 40% complete with no concrete completion date. The developer refused refund requests, citing force majeure due to pandemic-related delays. The investors had collectively paid AED 8 million in installments and were facing significant financial losses.
What We Did
Our real estate team reviewed all sale and purchase agreements and identified multiple breaches by the developer, including failure to register escrow account properly and missing construction milestones. We filed a collective complaint with the Real Estate Regulatory Agency (RERA) and simultaneously initiated legal proceedings in Dubai Courts. We obtained an independent construction expert report confirming that the delays were not pandemic-related but caused by developer mismanagement and fund diversion.
The Result
RERA ruled in favor of the investors, terminating the sale agreements and ordering the developer to refund all payments with 5% annual interest. The Dubai Court enforced the RERA decision and added legal costs and additional compensation for damages. All 15 investors received their full AED 8 million refunds plus interest totaling approximately AED 9.2 million. The developer license was also suspended by RERA pending compliance.
Final Outcome:
Full Refund + Interest
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