| 24 Nov 2008 |
|
Bonnington cancels project
- Text size
Bonnington Land has cancelled developments on three of its plots at Jumeirah Village because of a shortage of electricity, said a company executive.
A public notice announcing the cancellations and the resale of the plots has been issued by the Dubai Land DepartmentDubai Land Department
and the Real Estate Regulatory Agency (Rera)Real Estate Regulatory Agency (Rera).Bonnington had asked for a certain quota of power to enable it to build the residential and service apartment project, Sales Manager Angela Margaritelli told Emirates Business.
However, the required quota was not supplied and as a result the company no longer wished to go ahead with developing the plots.
ReraRera
Chief Executive Marwan bin Ghalita said: "This is a critical situation and we have issued the notice in order to protect the rights of investors. The developer is claiming that no sales have been made on the plots. However, we have issued the public notice in order to make sure that there are no investors on the plots who are still to be paid their dues."Based on the structure we have set up there is no penalty against a developer for cancelling a project. Should we find out there are investors in the project then it will be a different matter and we will treat the case differently. If there are investors still waiting to be paid we will take legal action against the developer."
Margaritelli added: "We have no dues owing to investors. Whatever needed to be paid has been paid. The Land DepartmentLand Department
and ReraRera are aware of the cancellations and put out the public notice as part of the procedures they follow."Emirates Business asked Nakheel, the master developer of Jumeirah Village, if it would take over the plots and requested a comment on the developer's claim that there was a shortage of power, but received no reply.
The firm will next month hand over Bonnington Tower, a 40-storey mixed-use development comprising residential and hotel suites in Jumeirah Lakes Towers.
By Anjana Kumar
x
DISCLAIMER
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Access to this article is subject to specific terms and condition.
Loading ...Free Newsletter
Get the latest news from Real Estate and other Free newsletters.
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.