x Abu Dhabi, UAEFriday 28 July 2017

Investors play the waiting game over Reem Island

Thirty-five investors in the Tameer Towers development on Reem Island are waiting for an arbitrator to determine if their case can move forward.

Thirty-five investors in the Tameer Towers development on Reem Island are waiting for an arbitrator to determine if their case can move forward.

Groups of investors filed three separate cases, all against developer Tameer Holding Investment in an effort to be awarded refunds, but the company would like to handle each case individually.

"We should know in a few weeks what the Arbitration Centre decides," said Thabit Al Temimi, the lawyer representing the investors.

The case was first filed in March, but individual cases would need to be re-filed.

Mr Al Temimi said he is confident his clients have a strong case, as a group or as individuals.

"It really does not matter if Tameer wants to have them file an individual case," he said. "I think we will win. Now, it's just a matter of time."

jthomas@thenational.ae