Compensation victory for UK investor in Dubai for overdue real estate project

[Nicholas Wallwork]

A property investor has been awarded a refund for an office unit he bought in a project that is 20*months behind schedule after taking the developer to court.

British businessman Ron Oakeley bought two offices in a building in Dubai's Business Bay that*was to be named after the former Formula One racing driver Niki Lauda. The proposed Niki Lauda*Twin Towers building was part of a trio of projects launched by German developer Alternative*Capital Invest Real Estate, in 2007.

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[yort]

A property investor has been awarded a refund for an office unit he bought in a project that is 20*months behind schedule after taking the developer to court.

British businessman Ron Oakeley bought two offices in a building in Dubai's Business Bay that*was to be named after the former Formula One racing driver Niki Lauda. The proposed Niki Lauda*Twin Towers building was part of a trio of projects launched by German developer Alternative*Capital Invest Real Estate, in 2007.

Click Here to Read The Full Story and Add your Own Comments to Compensation victory for UK investor in Dubai for overdue real estate project

I invested with ACI as well in 2008. But with my project (PKS in JSV) that i paid 30% down and still no signed contract (the contract suggested today is for the same proce of 2008 and for bigger units that reserved intitially) . But i received
a letter from them that i need: 1. To sign the clearance letter to accept new units 2. register in OGOOD and then... What to do? project is not cancelled (at least is what they say) and the letter states that it is not in their polycy to give the money back!
please advise!