Urgent termination of SPA and claiming full refund due to project delay

Urgent termination of SPA and claiming full refund and compensation due to a project delay.

I have purchased and paid in full towards 2 off-plan studios in Dubai. The developer, as per the SPA, was supposed to complete in 2019, They failed to deliver even by December 2020 and now keep changing the dates.

They recently said quarter 1 2021, now saying quarter 2 2021. They have achieved a ridiculous 2% progress in 6 months and have admitted that to me in writing.

I would like to know if I can cancel the SPA and get a full refund as I am facing losses and damages now.

I have written to them via email several times and they say that it will not be possible as the units are registered and it is an active project and construction is in progress. I do not find this satisfactory.

I would like to act fast on this.

Please advise!