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Sokook cancels Ivory Tower contracts
- United Arab Emirates: Tuesday, July 29 - 2008 at 10:23
Sokook Investment Group has cancelled the contracts of hundreds of investors in its long-delayed Ivory Towers project, according to The National newspaper. The Saudi Arabian company told investors that the contracts were cancelled due to late payments, although investors claim that payments had been suspended until construction began. Building has been delayed by three years and no date has been set. According to the report, investors have threatened legal action.
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