Tameer Towers’ investors push ahead with legal action over delays

Group of 75 investors claim they are entitled to reclaim money for failure to complete project on time

The initial delivery date of the project was May 2011

The initial delivery date of the project was May 2011

A group of 75 investors in the stalled Tameer Towers project in Abu Dhabi are pushing ahead with legal action against its developer in a bid to reclaim their original investments.

Investors in the $1.9bn Tameer Towers development claimed they are entitled to the compensation after the developer, Tameer Holding Investment, missed its completion date by nearly a year.

“It was supposed to be delivered by was the end of 2011. As per the contract, this gives us the right to cancel the contract and request our money back,” investor Haitham Hassan told Arabian Business.

“We have already started legal action. If we don’t hear back from Tameer within the allocated time we will plan to file an arbitration case. We don’t believe that this project will be delivered in a timely manner or in the same quality that it was supposed to be,” he added.

The original delivery date for the towers on the Al Reem Island project was scheduled for June 2011, with a clause allowing a six month delay to December.

The Dubai-based developer has to date only completed 13 levels in Tower A and four in Tower B. Tameer has said it is not at fault and claimed the delay is due to an issue related to the contractor.

The firm was not available for comment when contacted by Arabian Business. Tameer on February 26 issued a statement confirming it had completed 21 percent of Tower A and B. Recommencement of works are scheduled for May 2012 with phase A of the development due for completion by the fourth quarter of 2013, the company said.

“Tameer remains committed to the delivery of the project and confirms that the Tameer Towers development on Al Reem Island, Abu Dhabi, remains an active and important focus for the group,” it added.

Several stalled construction projects in Abu Dhabi have been resumed in recent months. Abu Dhabi’s Executive Council in January approved a raft of projects in the capital including the delayed branches of the Louvre and Guggenheim museums after a review of development plans.

The Executive Council, chaired by Crown Prince Sheikh Mohammed bin Zayed al-Nahayan, also approved two projects for the redesigning and building of a new national museum and the cultural Hilli site in the city of Al Ain.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

Posted by: lina saldanha

what about the Dubai Lagoon projects. over due by 4years. no sign of completion yet. what do we do about it. will somebody enlighten us please.

Posted by: Mohammad Reza Daliri

Address of lawyer that follows two groups case vs Tameer in Tameer Towers long delay

House of Justice Law Firm

Office : +971-2-6261115
Fax : +971-2-6275545
P.O Box : 33817
Abu Dhabi, UAE.

Posted by: imtiaz hussain

I am trying to approach Tameer Tower Management but
not positive reply. Am tired and sick with such attitude of the
managements, why not they come out and make a clear
explaination what going on, the authority in Abu Dhabi
should take appropriate action as Country name at stake,
due to such attitude by the builders, taking money from the
investors and fail to delivered. If anyone know the update
kindly inform.

Posted by: Antonio

There is still no update from Tameer they just finished there towers in Dubai, elite and princess towers and downgraded moving there nice offices from SZR.we expected contractor to proceed during Q4 2012 still nothing going ahead as per there investor relations UAE court of arbitration is the only way forward from this point!

Posted by: Imtiaz

Recently I met with CEO of Tameer and he assured me
that within next 3 weeks they will announce new contractor
and work will commence by May 2012 and completion
in 2013. let hope for the best this is for Tower A and B.


Posted by: habiba

Dear Imtiaz

did you hear from Tameer management any update
am waiting to hear any good news about the construction
start up.

Posted by: Tired of waiting

Can someone publish the contact details for the lawyers for those 75 investors, since like me, many more would like to join them.
Tameer completion date keeps going back so they cannot be trusted.

Posted by: Bugra Dagtas

Did you get the contact details of the lawyer. I had invested in the time Towers project and the completion date is overdue by two years.

All comments are subject to approval before appearing

Further reading

Features & Analysis
Abu Dhabi real estate: Down, but not out

Abu Dhabi real estate: Down, but not out

While there has been evidence of rents in the richest emirate...

Forgotten fees: the challenge of investing in Dubai property

Forgotten fees: the challenge of investing in Dubai property

Investors attracted to low service charges at some Dubai residential...

Dubai real estate: which way will it go?

Dubai real estate: which way will it go?

In this special report, Arabian Business analyses the state of...

Most Discussed
  • 9
    Revealed: huge disparity in Dubai school fees

    I recall a recent study by Alpen Capital suggesting that the average cost of a child's entire life of schooling in Dubai is about AED 1 million. Although... more

    Monday, 29 May 2017 9:21 AM - New Expat
  • 3
    How Saudi Arabia blundered into OPEC oil cut

    Well written piece. Clearly the pressure on OPEC countries holding to their quotas will become even harder. Nigeria etc. are desperate to pump & sell a... more

    Monday, 29 May 2017 9:18 AM - Victory Red