Investors in stalled schemes being developed by Hydra Properties were again left frustrated yesterday when the auction of a prime package of land owned by the developer was suspended at the last minute.
More than 74 bids were placed on Thursday on a 41,000-square-foot parcel of land close to the Burj Khalifa, which sold via an online auction for about Dh65 million (US$17.7m).
However, yesterday, three days after the hammer came down on the auction hosted by www.emiratesauction.ae, lawyers revealed that the sale had been suspended after a third party had submitted a petition to the Abu Dhabi courts.
Hydra investors frustrated - The National
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