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Dubai, UAE

How to terminate the SPA of a property and claim refund for delay in hanover

I entered into a SPA with some developers back in 2017 and paid 30% for a 2BR in a project. It was originally supposed to be delivered in Q2'18.

I want to get out of the agreement and ideally get my deposit refunded, what are my options, and how much legal cost we are talking about?

Thanks

J.

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Al Fahad Legal Consulting
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9 Mar 2021, 02:13

Dear J.,

Good morning.

Further to your inquiry, we have to review the SPA that has been signed by you and the developer. So please feel free to send the SPA and other related documents to our email.

Apparently, we have dealt with 6 cases against such developers and projects and won all of them and refund the money back to our clients.

Due to the fact that the project handover should've been in Q2 of 2018 but it did not happen, which leads the buyers (our clients) to claim reasonable compensation for delaying handover not only the money that they paid.

Looking forward to receiving your email with related documents.

Thanks.

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9 Mar 2021, 05:58

Dear questioner,

As the developer has defaulted on his basic duties by delaying the handover of the project, therefore, you have full rights to terminate the mutually signed SPA and ask for a full refund of your investments along with compensation.

We have already dealt with similar cases against such developers with 100% success in the past.

Kindly contact us directly on the phone or by email for a detailed discussion.

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Al Safar & Partners Advocates & Legal Consultants
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25 Mar 2021, 08:57

Dear Mr Junaid,

Good day!

Yes, we have the right to terminate the agreement, get full refund and compensation thereof.

Also, you have the right to get Rental Income Loss and Loss in Opportunity. However, we need to review the agreement and addendum signed, then only we can confirm our legal advice.

For further assistance, please feel free to contact us on our phone or send us an email.

Thank you.

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