Dubai Question

[zorb1]

Hello all,

so my dad has a property in dubai, the way the system is that you pay in installments before your project is completed, since there is really no collections there, you cant just put a deposit on and pay the rest after completion.

So after the shit hit the fan in dubai, construction stopped etc..we stopped making payments, builder is now saying they will take all the money and leave us with nothing. But the payments are made into a government escrow account to be released after completion...anybody run into anything like this before?

[J@Tuner]

Would love to help you out here but in your situation I would not even bother asking this question on Beyond. You need to find and contact a lawyer to help you, and rely on trust worthy sources only, you won't find many, if any, here.

[Canmorite]

Definitely find a commercial real estate lawyer who's dealt with cases overseas.

[JAYMEZ]

Hmmm interesting , one of my sisters is actually a lawyer and works with contracts with real estate in abu dhabi. She works for Birds and Birds (London UK)... Maybe try calling them.

http://www.twobirds.com/English/Pages/Home.aspx

[zorb1]

update, apparently there are laws that allow builders to keep the payments without any ramifications at all..these were put into place after the economy in dubai hit the shitter in december..waiting game now