Tuesday, June 10, 2014

Cancelled projects in Dubai officially listed

The Dubai Courts has placed a list of developers and their cancelled projects. This is the first time that Dubai’s Real Estate Regulatory Agency (RETA) is officially publishing the list of cancelled projects.

The court’s website lists 36 cancelled projects by eighteen developers.  Here’s the list of developers and cancelled projects:

Remah Holding Limited

  • Tower 88

High Rise Properties LLC

  • Dorna Tower
  • Orchid Residences
  • The Heights-Golden
  • Waves Business Tower
  • The Heights-Silver
  • Rotating Residence
  • Heigh Rise Boulevard1
  • Heigh Rise Boulevard2
  • Alternative Capital Invest Gmbh
  • Wings Of Arabia
  • Khyool Investment Llc
  • Abjar Tower
  • Faras 2

Makaseb Properties

  • Rufi Tower (Quattro)
  • Archery Tower
  • Rufi Lake View
  • Quattro West

Dheeraj & East Coast Llc

  • Cascade Manor

Merwess Abdulaziz

  • Azizi Feirouz I
  • Azizi Feirouz II
  • Azizi Feirouz III
  • Azizi Fountanne Tower

Bux Holdings Limited

  • Beti Ul Funoon

Cliff Dwellings Enterprises Ltd

  • Global Golf Residence

Parshwa Holdings Limited

  • Sapphire

Galadari Investment Office Limited

  • G-Office Tower

Escan Real Estate PJS

  • Escan Tower

ME Development Llc

  • Windsor Residence

IR Investments Holding Company Limited

  • Tonino Lamborghini-Elettra Residence

Orbit Holdings Ltd

  • Orbrit Holding

Al Zahra Properties

  • Eden 1
  • Eden 2
  • Sunset Gardens B
  • Sunset Gardens A
  • Sunrise 2

Hampstead & Mayfair Development Limited

  • Hampstead Residences

Zenith Real Estate Development Llc

  • Zenith Tower A3

Dubai Courts, on its website, states the committee will begin its first stage of agenda on the above-mentioned list of cancelled projects. The last date for submission of the manual or electronic applications by investors is 31st August 2014.

Investors can register manually by visiting Dubai Courts in the evenings from 2.30 pm to 7.30pm on the main building central services hall on the first floor or electronically by clicking on the name of the project and then filling in the data, the Court said.

Back in July 2013, Dubai issued Decree No.21, establishing a special legal committee for liquidation of cancelled real estate projects and settlement of rights and disputes pertaining to such projects.

Earlier, RERA officials had refused to release list of cancelled projects in Dubai, as the investors were personally notified about cancellations. Now, property experts have called for release of information on cancelled projects.

Further, RERA data reveals 187 projects have been since the beginning of 2009, with 253 projects on hold, and 232 projects to be completed soon.

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