166 projects in new cancellation list

26.01.2015
The courts clarify that there is no specific time period for the judgment to be passed in projects that are under consideration.

The Dubai Courts has listed 166 real estate projects in its newly-issued project cancellation list, Emirates 24|7 can reveal.

The Cancelled Real Estate Projects Committee is currently hearing 17 projects all of which were launched by Reliance Estate Development.

Two projects by Khyool Investment – Abjar Tower and Faras 2 – have been liquidated and money has been distributed among investors.

The courts, however, clarify that there is no specific time period for the judgment to be passed in projects that are under consideration with all investors being informed of the final judgment using different ways of communication listed in advance on its website.

An official list has been released by Dubai Courts under various categories.


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