Dubai Court Orders Developer to Refund Dh1.5 Million to Investor Over Title Transfer Issues
Dubai court orders Heart of Europe developer to refund investor Dh1.5m over failed title transfer
Gulf News
Image: Gulf News
A Dubai court has mandated a developer involved in the Heart of Europe project to refund an investor Dh1.37 million and pay Dh150,000 in compensation due to the failure to transfer property ownership. The court found multiple legal attachments prevented the transfer, constituting a breach of contract.
- 01The court ordered the developer to refund Dh1,370,749.12 plus 5% annual interest from the lawsuit date.
- 02An additional compensation of Dh150,000 was awarded for damages due to the prolonged inability to transfer property ownership.
- 03The investor had paid approximately Dh1.4 million for the hotel unit but never received legal control or title deed.
- 04The court discovered 13 legal attachments against the property, which the developer did not dispute.
- 05Claims of received investment returns were dismissed due to lack of evidence.
Advertisement
In-Article Ad
A Dubai court has ruled in favor of an investor in the Heart of Europe project, ordering the developer to refund Dh1.37 million and pay Dh150,000 in compensation. The court found that the property could not be transferred due to 13 legal attachments registered against it, which the developer acknowledged. The investor had fulfilled all payment obligations, including approximately Dh1.4 million for the hotel unit, but was never issued a title deed or granted legal control. The court deemed the failure to transfer ownership a serious breach of contract, justifying the cancellation of both the sale agreement and the related hotel management contract. The investor's claims for additional compensation and investment returns exceeding Dh2.24 million were not substantiated, leading to the dismissal of claims regarding received returns. The developer was also ordered to cover court fees and legal costs.
Advertisement
In-Article Ad
The ruling may affect investor confidence in Dubai's real estate market, particularly in projects with legal complications.
Advertisement
In-Article Ad
Reader Poll
What do you think about the ruling in favor of the investor?
Connecting to poll...
Read the original article
Visit the source for the complete story.