A property owner in Nakheel's Jumeirah Islands development has won a Dh2.5 million (US$680,624) cash payout from the developer, the first such award from the Dubai World Tribunal.
It was also the first time the Tribunal enforced an arbitration decision from another court, which could set a precedent for other disputes involving the developer.
The Dubai International Arbitration Centre last May ruled that Vinod Kumar Dang should be paid Dh2.5m plus interest and legal costs in a row over construction defects in a villa. The property owner then took the matter before the Tribunal to have the award verified and paid out.
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