Court annuls sale contract of residential unit in Dubai

The Real Estate Court in Dubai annulled the sale contract of a residential unit in a project in the Riviera area, which was concluded between an investor and a real estate company, after the company breached its obligations and delayed in completing the project and delivering the contracted unit.

- Mohammed Yaseen, Staff Reporter

The court also ordered the refund of Dhs516,872 to the investor, in addition to DhsIO0,000 as compensation for material and moral damage incurred, obliging the company to pay the fees, expenses, and lawyers fees. According to the case file, an investor concluded an agreement to purchase a residential unit within a real estate project under development, with a total value of Dhs1,722,000, with an agreement to pay its value in two instalments, where he fulfilled his contractual obligations and paid