Dubai Properties has become embroiled in a row with investors surrounding a Dh3 billion (US$817 million) development, after demanding final payment before the project was ready to hand over.
The dispute involves the Executive Towers development at Business Bay, a collection of 11 high-rise buildings containing more than 2,200 luxury apartments.
The investors said they received demands for final payments from Dubai Properties, which is owned by the Dubai Government, and assurances that the project had been completed. But after making their final payments, the owners were told the handover would be delayed.
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