Abu Dhabi, UAEWednesday 22 May 2019

Cancelled Dubai property projects list now features more than 150 developments

Plans for the region's first rotating tower have been included in a new list of cancelled property projects published on the Dubai Courts website.
Above, a rendering of the Dh250 million Rotating Residence, a 16-storey freehold rotating tower of four rotating town houses and retail areas in Jumeirah Village South, which was scrapped. Courtesy High Rise Properties
Above, a rendering of the Dh250 million Rotating Residence, a 16-storey freehold rotating tower of four rotating town houses and retail areas in Jumeirah Village South, which was scrapped. Courtesy High Rise Properties

Ambitious Dubai projects including plans for the region’s first rotating tower and a luxury development on the island of Greece on The World project have been included in a new list of cancelled property projects published on the Dubai Courts website.

The document, which was first published last summer as a list of 18 developers and 36 developments, has now been extended to more than 150 projects.

Dubai Courts said that two projects by Khyool Investment – Abjar Tower and Faras 2 – had been liquidated and the money from them distributed among investors.

It said that Rera’s Cancelled Real Estate Projects Committee was currently hearing cases for another 17, all of which were developed by Reliance Real Estate Development.

Another 34 cases were in the process of having funds distributed among investors after having been heard and registered by the committee, Dubai Courts said.

The website added that the remainder of the projects listed had been transferred to the committee and would be heard soon.

“The committee for the liquidation of cancelled real estate projects in the emirate of Dubai and settlement of rights related thereof, specialises in liquidation of real estate projects, by which a final decision of cancellation has been issued by Real Estate Regulatory Agency (Rera), whereas the judgments, orders and decisions issued by the committee shall be final, peremptory and unappealable by all means of a regular appeal, and shall be executed by the implement Department Dubai Courts,” a statement on the Dubai Courts website said.

Dubai Courts did not respond to email and telephone requests for further information from The National, but it is widely believed that the list should provide investors in the cancelled projects with a new timeline under which refunds could be forthcoming.

The projects include a wide selection of ambitious real estate projects dreamed up by developers during the heady days of the previous property boom.

They included High Rise Properties’ Dh250 million Rotating Residence, a 16-storey freehold rotating tower of four town houses and retail areas in Jumeirah Village South that was due for completion in 2008.

Also included on the list was V-Greece on the World, a 484,882-square-foot development by V Resorts located on the south-eastern side of the Europe archipelago, which would have included 65 luxury homes that the developer was planning to rent out to tourists when not in use by buyers.

Neither High Rise Properties not V Resorts were available for comment when contacted by The National.

“This is a move in the right direction for the Dubai real estate market and should make people feel slightly more comfortable about investing in off-plan real estate,” said Craig Plumb, the head of research in JLL’s Dubai office. “However, it is disappointing that according to this list only two projects appear to have reached the end of this process when many of these investors have been seeking their money back for years.”

Below is the new list in full:

Cancelled real estate projects which have been liquidated and distributed among investors

Khyool Investment LLC

Abjar Tower

Faras 2

Cancelled real estate projects currently being heard by the Cancelled Real Estate Projects Committee

Reliance Estate Development

Reliance 1-17

Cancelled real estate projects which have been heard and registered by the Cancelled Real Estate Projects Committee and are in the process of distributing amounts among investors

High Rise Properties

Dorna Tower

Orchid Residences

The Heights - Golden

Waves Business Tower

The Heights - Silver

Rotating Residence

High Rise Boulevard 1

High Rise Boulevard 2

Hampstead & Mayfair Development Limited

Hampstead Residences

Zenith Real Estate Development LLC

Zenith Tower A3

Orbit Holdings Ltd

Orbrit Holding

IR Investments Holding Company Limited

Tonino Lamborghini-Elettra Residence

ME Development LLC

Windsor Residence

Cliff Dwellings Enterprises Ltd

Global Golf Residence

Galadari Investment Office Limited

G-Office Tower

Bux Holdings Limited

Beti Ul Funoon

Parshwa Holdings Limited

Sapphire

Escan Real Estate PJS

Escan Tower

Al Zahra Properties

Eden 1

Eden 2

Sunset Gardens A

Sunset Gardens B

Sunrise 2

Alternative Capital Invest Branch GMBH

Wings of Arabia

Makaseb Properties

Rufi Tower (Quattro)

Rufi Lake View

Archery Tower

Quattro West

Merwess Abdulaziz

Azizi Feirouz I

Azizi Feirouz II

Azizi Feirouz III

Azizi Fountanne Tower

Remah Holding Limited

Tower 88

Dujan Properties Ltd

Eden Blue

Cancelled real estate projects which has been transferred to the committee and will be seen by the committee soon

Sanali Holdinsg FZE

Sanali Business Tower

Sanali Business Hights

Sanali Capital Avenue

Azizi Investments LLC

Al Masa II

Integral Properties Development

Integral 05

Qureshi Faisal Abdul Aziz

Dunes Dahlia

Dunes Group Developments Limited

Dunes Lilac

Royal Holdings Ltd

Global Elahi Residence

Al Tafany Properties Limited

Al Tafany Tower

Crown Two Holding Limited

Crown Royal

Noorzak Investments Limited

Jehaan 2, 3, 4, 6, 9, 11

Diamond Arch Limited

Diamond Arch 1

Diamond Arch 2

JAB Developments INC

Pebble Stone

Oasis JV Limited

Oasis Heights

Sheth Estate (International) Limited

Iris Mist

Al Mas Worlds Investment Limited

Soraya Tower II

Kleindienst Properties

The K Suites

Salya Homes Limited

Mario Valentino Boulevard

Star Surveying & Evaluating Services

Sahara One

Burj Alalam Holdings Limited

Burj Alalam

Rufi Downtown Residency Limited

Rufi Royal Residency

32 Group Properties Limited

Paris Residence

Umesh Kumar Vinodrai Chug

Insignia Residence

Desert Dream Investments & Development Properties

Dream Harbour

Dream Square

Baiti Properties Development LLC

Al Qurashi

Flamingo Investments Limited

Sanali Flamingo

ERC Property Developers Limited

The Heights

Westar Properties Ltd

Westar Galaxy

Dheeraj & East Coast LLC

The HQ

Cenita Global Ltd

Casa Verona

Sheffield Real Estate LLC

Sheffield Classique

UAE Waterfront Group Limited

Royal Bay

Profile Zero Five Five Limited

Zero Five Five

Syndicate Sealine Limited

Mystica

Bangash Developments Limited

Royal Deluxe Villas

Royal Luxury Villas

Royale Garden Residence

Al Faraa Properties

Burj Al Faraa

Image Residences

ACW Holding Ltd

Platinum 2

Sternon Developers Limited

Sternon Tower 1

Jasmine Garden Limited

Jasmine Garden

Chapal World LLC

Chapal Emirates Point

Satnam Singh

R&R Tower I

Infinity Emirates Investments LLC

Soccer Tower

UK-Cig Developments (JVS) Limited

Metropolis Lofts

New World Investments Limited

World Wide Tower

Star Developers Limited

Nathalie Tower

D10 AWF Investment Limited

Acquarius Gate Tower

JAB Mosaistone Developments INC

Mosia Stone

Mahdi Amrollahi (partner) Antar Marzooq (owner)

Pisa Tower Residence

Sameer Mahmoud Al Ali

Zenith Tower

ES Investments Limited

KPM 2 & 3

Smart Home Properties

Elegant Tower

Premier Group (FZC)

Berlin City Center

Aryene Property Developers Limited

Aryene Wonders

Evergreen Signature Investment Limited

Le Stelle 1-5

Diamond Properties Limited

Blue Moon Tower

Rufi Luxury Heights Limited

Rufi Luxury Heights

Optimo Arabia Limited

Arabia Tower

Elan Investment Limited

Sanali Quantum

Gulf Line International Ltd

North Gate Business Tower

Beliza Resources Limited

Prodigy 4

German Holding Group (LLC)

Mira Palace

Oakgrove Global Limited

Prodigy 2

Avetona Global Limited

Prodigy 5

Mirjana Resources Ltd

Prodigy 3

Neel Devcons Limited

Phoenix Wings

Ashai Tower JVS Limited

Ashai Tower 5

Rufi Grand Apartments Limited

Rufi Grand Apartments

Luxor Investments Limited

The Signet

Pearl Properties

The Palesides

Kensington Global Investments INC

Kensington Krystal

YRA Enterprises Limited

Schon Suites and Schon Residence

City-D Investments Limited

Pangkor Laut Luxury Residence & Spa Village

Malson Limited

Maison Residence Collection

V Resorts Ltd

V-Greece on the World

Alternative Capital Invest GMBH

Palazza Arabia

Venetian Arabia

Sama Emirates Estate Development LLC

The Sama World Tower

Al Duaa Holdings (FZC)

Alduaa Marina Tower

Spain Select Limited

The Acquitainia

Hampstead & Mayfair Development Limited

Hampstead & Mayfair Boutique Residences

Bela Vida Limited

Dolce Vita

Alternative Capital Invest GMBH

Sami Q Tower

Grun Developers Limited

PKS Residences

Kleindienst Properties

The K Hotel

Anis Holdings Limited

Chase Residency

Crown Thre Holdings Limited

Taina

Sungwon (FZE)

Santeview

Hydra Properties LLC

Hydra Towers

Ahmed Abdul Rahim Al Attar Properties LLC

Toronto

Vancouver

Posh Holdings Limited

Posh Lifestyles

Fortune Serene Limited

Fortune Serene

DJA414 Investment Limited

Sienna Square

AAA Facilities Management Services (LLC)

Eclipse Tower

Escan Real Estate PJS

Escan Tower

Alternative Capital Invest GMBH

Victory Bay Tower

Burj Al Du’aa Limited

The Plaza

Alternative Capital Invest GMBH

Pershing Luxury Beach Residence Tower

Zero Five Zero Limited

Zero Five Zero

Sebco Limited

Sebco Residence

Planetex Holdings Co.Limited

Crown Avenue

PND Investments Ltd

10 Tower

Heman R E D and General Trading Limited

I-Dubai

lbarnard@thenational.ae

Follow The National’s Business section on Twitter

Updated: January 25, 2015 04:00 AM

SHARE

SHARE