Investors hit back in property battle
26-Apr-2010 | The Middle East
Lawyers have questioned whether the Dubai Land Department (DLD) has the authority to cancel building contracts and seize properties.
The DLD has sent out letters to investors in building projects, including Mazaya Business Avenue and Jumeirah Business Centre Five (both in Jumeirah Lake Towers), stressing that if they fail to make outstanding payments within a fortnight their properties will be taken and auctioned off.
Lawyers Jerry Parks
Jerry Parks discusses the implications of DLD's actions with 7 Days Newspaper.
This article was written by 7 Days Newspapers and reproduced with the kind permission of the editors.
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