Nakheel to take legal action over project delays
Dubai master developer Nakheel will take legal action against any sub developer that fails to deliver projects on time, the company's CEO said.
Speaking at the Arabian Travel Market (ATM) in Dubai, Chris O’Donnell said Nakheel has introduced a clause into all its sales contracts to stamp out late delivery of projects.
“Nakheel sales contracts will now include definite timeframes on the development of the land we sell, if projects aren’t commenced within that certain time frame, we take action against that developer. That’s something we have been focused on that for the last 18 months,” he said in an interview.
O’Donnell's remarks follow news that Dubai's real estate watchdog is investigating four developers for what appears to be the non-delivery of projects.
Speaking at the Arabian Travel Market (ATM) in Dubai, Chris O’Donnell said Nakheel has introduced a clause into all its sales contracts to stamp out late delivery of projects.
“Nakheel sales contracts will now include definite timeframes on the development of the land we sell, if projects aren’t commenced within that certain time frame, we take action against that developer. That’s something we have been focused on that for the last 18 months,” he said in an interview.
O’Donnell's remarks follow news that Dubai's real estate watchdog is investigating four developers for what appears to be the non-delivery of projects.
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