Dubai's biggest developer moves to repossess apartments from defaulting buyers

[Nicholas Wallwork]

Dubai's biggest developer, Emaar Properties, has started proceedings to seize real estate from*buyers who have defaulted on payments in apartments.

It is sending letters to owners in flagship development Dubai Marina saying that 40% of the*amount they have paid so far will be kept and the properties auctioned if they fail to pay the*installments within two weeks.

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[georgihh]

Dubai's biggest developer, Emaar Properties, has started proceedings to seize real estate from*buyers who have defaulted on payments in apartments.

It is sending letters to owners in flagship development Dubai Marina saying that 40% of the*amount they have paid so far will be kept and the properties auctioned if they fail to pay the*installments within two weeks.

Click Here to Read The Full Story and Add your Own Comments to Dubai's biggest developer moves to repossess apartments from defaulting buyers

That means we are at the bottom or very closed and Emaar are trying to action the properties and hike the prices in the near future.
I will say after Ramadan we will be up again