|
|
|
Dubai Lagoon offered to investors on a 99-year leasehold, was bought by Schon Properties from its previous realty developers |
The Dubai Lagoons, a project that has slowed down a bit for the last one year, has not been shelved as per specualtions, the Dubai Real Estate Regulatory Agency (Rera) said. The project, offered to investors on a 99-year leasehold, was bought by Schon Properties from its previous developers.
"The project, which was initiated before the launch of Rera, saw some delays. Rera, in its monitoring responsibility, had to respond to investors' complaints and safeguard their rights and interests," Marwan Bin Galita, Rera chief executive, said.
Rera also met with (60) investors who bought flats in the project. It could amicably unravel scores of disputes and shelter investors' interests over its year-long launch, Bin Galita said. All investors are urged to report to Rera whatever violations they come across, particularly those related to escrow accounts No 8, Bin Galita said.
