There are always delays in Dubai - part of your due diligence should have shown you that. I don't think that you have a cat in hell's chance of getting compensation. Why waste your time and effort?
Yes, it is true there are always delays in Dubai, but what you must also understand is that Dubai is a city built on hype and, more importantly, foreign capital.
We do not have any legal power to force Nakheel to pay some kind of compensation. Certainly in the UK, any property developer would stick two fingers up at us and tell us where to go. But in Dubai, they are completely dependent on foreign money. They cannot even contemplate any development before a selling a large proportion of it beforehand to foreign buyers.
They can ill-afford bad publicity and they have been getting more than enough of that recently. If enough of us presented our case I think it is not entirely impossible that Nakheel may give us something for tying up our capital longer than they promised. Certainly it would be better for them than more bad press, particularly in the UK.
We have received official intimation from Nakheel regarding the revised delivery date for buildings in France cluster in International City.
Considering the complexity and size of International City, construction had to be done in phases so as to deliver an end product of high quality. As per Nakheel’s construction schedule, your building will be ready by September 2007.
Therefore, this letter constitutes formal notification, as provided by Nakheel, of a revision to the Completion Date as per the Terms of the Unit Sale and Purchase Agreement.
Accordingly, please be advised of the modified payment schedule as follows:
· The 15% instalment due on June 2006 has been deferred to January 15, 2007. · The remaining 30% will be due in July 2007.
While Nakheel regrets the announcement of this delay, it believes that this delay reflects its commitment to quality and customer satisfaction. We will continue to keep you aware of any update received from Nakheel.
