Questions & Answers
What to do with a developer who delayed property handover for ten years?
We invested in a property which is delayed by 10 years. Now the property is ready but the developer is not following the signed SPA and asking to sign a new contract.
A few investors won the case against the developer for a full refund but the developer transferred the project to his other company and is not giving the refund.
Please suggest what to do. According to the SPA, the developer has to give 1% delay compensation but he is denying and asking money from the investor.
Dear Sir/Madam,
I trust you are doing well.
Kindly be informed that I can assist you with your request. The developer is bound by the contract signed and should not deviate from it except with your approval.
It is paramount to review the SPA in order to understand if there are any limitations.
Kindly forward same to our email or call us by phone.
Best regards,
Aws M Younis
