Questions & Answers
Termination of SPA for delay in delivery and failing to pay instalments
Hello,
I would like to ask a question about real estate. My husband and I recently lost our jobs because of COVID-19. We invested in an apartment for more than 2 years ago.
This apartment was supposed to be completed last year, but it is not even on 50% at this moment. We don't have visa sponsor anymore and we are unable to continue paying for that apartment.
We will have to leave the UAE soon. What are our options for this situation? Can we ask for the return of our investment?
Thank you very much for your help.
Dear questioner,
If the project is delayed beyond a period of 12 months, then you can open a case in Dubai Courts to terminate the mutually signed SPA and ask for a full refund of all investments done.
Further, we need to review the SPA in order to comment further. If need be, kindly contact us by phone or email for further assistance.
You can file a case to terminate the agreement and refund the amount you paid.
Please contact us on phone or email.
Hi,
Prior to advising on whether you can receive a refund, we have to review the sale-purchase agreement signed between you and the developer.
For further information, please contact us by email.
