Dubai - Daman Real Estate Capital Partners (Recap), an SPV set up for the development of the Burj Daman project in the DIFC, announces that the final judgment has been made in its favour by the Dubai Court of Cassation in the matter of its dispute with Oger Dubai; the discharged former contractor of the landmark 3.2 million square-foot development. Oger Dubai was dismissed by the developer of the 65-storey project in 2012 for non-performance of its contract citing “culpable delay” in completing the project.
It may be recalled that the Dubai Court of Appeals had ruled in favour of Daman Recap last December, overturning the earlier arbitral award obtained by Oger Dubai. Oger Dubai then chose to appeal against the decision at the Dubai Court of Cassation. In a judgement passed earlier this month, the Dubai Court of Cassation upheld the Dubai Court of Appeals’ ruling in favour of Daman Recap. The ruling by the Dubai Court of Cassation brings finality to the long dispute.
This final judgment should now clear all incumbrances placed upon the assets of Burj Daman, and will allow all affected owners in Burj Daman to finalise their Title Deeds.
Daman Recap is satisfied that its faith in the UAE’s judicial system has been rewarded, and justice has eventually prevailed, to protect the rights of hundreds of homeowners in the project.
© Press Release 2018
