Tameer Holding, a Dubai-based developer, has repossessed 400 units till date and expects no more defaults ahead of handover of its two projects next year, the company president told Emirates 24|7.
“During the last two years we put in place a strategy to deal with each investor particular situation, which has resulted in a considerable reduction in the rate of defaults already. We don’t expect defaults at handover of our Princess Tower and Elite Residence in Dubai Marina, since the customer that are reaching that point have already paid a significant percentage of the purchase price,” said Tameer President Federico Tauber.
In November, Tauber told this website that they company had repossessed 200 units.
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