Palm Springs dispute on course to being resolved
A number of Palm Springs investors have had calls from DAMAC Properties informing them that the ‘cancelled’ Palm Springs project is to be re-instated and will be located on the new plot provided by Nakheel.
One UK investor said: “I‘ve had a call from DAMAC informing me that the Palm Springs project will get the go-ahead now, but due to the re-allocated plot, there may be some changes. Damac told me that they will confirm this in writing within the next 10 days.”
The Palm Springs Investors Group is cautiously optimistic that this signals the end to the dispute between investors and Damac, and pending written confirmation of the decision to go ahead with Palm Springs, the Group will be looking to suspend any further negative publicity against Damac. Source
One UK investor said: “I‘ve had a call from DAMAC informing me that the Palm Springs project will get the go-ahead now, but due to the re-allocated plot, there may be some changes. Damac told me that they will confirm this in writing within the next 10 days.”
The Palm Springs Investors Group is cautiously optimistic that this signals the end to the dispute between investors and Damac, and pending written confirmation of the decision to go ahead with Palm Springs, the Group will be looking to suspend any further negative publicity against Damac. Source
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