By Parag Deulgaonkar www.emirates247.com
Emaar Properties, Dubai’s largest developer, on Tuesday, August 7, 2013, issued a second list of property defaulters in its Claren T1 and 29 Boulevard T2 projects in Downtown Dubai, asking them to pay their pending installments within 30 days, or face termination of contract.
Last month Mizin, now merged with Dubai Properties Group, had issued cancellation notices to defaulters in its Remraam project in Dubailand.
Although no details were mentioned on the number of installments pending from each buyer, the notice, which is served by Dubai Land Department in accordance with Law No (13) of 2008 as amended, and its Executive Regulations, requires a defaulter to clear the dues within 30 days as from the date of publication of the notice.
“If you fail to pay the amount due within the specified period DLD shall take the necessary legal proceeding pursuant to clause No. (11) of the aforesaid,” reads the notice issued in a local daily. More info