Investors in Bahrain project to sue developer

Red Snappa Friday, 8 February 2013 10:34 AM - Ireland

There are a significant number of off-plan developments with a similar status quo in Dubai, one might point out. Most of them now at a sufficiently 'hopeless case' stage, to warrant the appointment of an administrator.

An extensive 'clean up' of the unpleasant baggage which the property sector continues to carry forward, is becoming more pressing by the month.

abbassali zare Friday, 8 February 2013 1:35 AM - usa

There should be an article on the Ajman investors who have been waiting for five years and still no work in Emiratescity Ajman project.

Mirage Friday, 8 February 2013 10:33 AM - uk

There are lots in Dubai Sports City UAE waiting for more than 5 years also and nothing happened there, still projects on hold or will not be completed. Off plans were not touted as being a risk then, all said was safe to invest and guaranteed, developers registered with RERA, the toothless tiger who does nothing. Many have gone to a lot of trouble organising many petitions, contacting RERA/Lands Department, all ignored and contacting lawyers etc. No one cares about investor they protect developer. There are many projects left that will never be completed, money taken by developer and nothing built after almost 6 to 7 years in many cases. Projects were continuously delayed and stalled, developer cunning applied force majueure. This cannot be done it is written for longer than 6 months and it would be extreme conditions such as war. Where is developer to put up own money for off plan? Where is law to protect investors?

Bu Rashed Friday, 8 February 2013 1:35 AM - Bahrain

This is really bad.. it is putting all efforts by EDB (Economic Development Board) to make Bahrain as hub for investment in jeopardy. Bahrain International reputation will be ruined.

Such projects are not seeing the light while our neighbors such as Dubai & Qatar are doing far more advanced projects and thriving.

I wonder where is Bahrain going to?

Faisal Mohd Thursday, 7 February 2013 3:35 PM - Bahrain

For unknown reason, or maybe known, this developer doesn't seem to care, because he knows that somehow he is protected and no harm will come to him. He lives like a king on other people money. This project gives Bahrain a very bad name because it can be seen by all those who come by King Fahad causeway as a ghost town skeleton project that says beware of your investment in this country. It is time the heads of the country put their disagreement aside and take action.