Browse related articlesEmaar wins $1.2bn lawsuit
Saudi Arabia: Tuesday, September 23 - 2008 at 09:02
Dubai-based developer Emaar Properties has won a court case filed against it by Saudi Arabia's Jadawel International for a $1.2bn compensation claim, reported Khaleej Times. Emaar's Saudi subsidiary, Emaar Economic City, and Jadawel, which is owned by Mohammed Bin Issa Al Jaber, sued Emaar in 2004 over allegedly failing to execute agreed projects and violating the terms of their partnership. Contesting the case, Emaar maintained that it did not breach any agreement or law in relation to this deal, which was aborted as a result of the conditions not being met. The dispute was referred to arbitration in 2005 following a ruling by the Board of Grievances in Saudi Arabia that it has no jurisdiction to look into the issue.
See Also
Also consider reading:
- » SWFs may invest $725bn in property
- » UAE mulls rent freeze
- » Dubai issues new crackdown on shared villas
- » Dubai property prices to fall by 2011
- » UAE property shares soar
- » Investcorp launches $1bn real estate credit fund
- » Capitala awards contract for Rihan Heights
- » First Dubai quadruples capital to $353m
- » Aldar revises Noor Al Ain project
- » Aldar signs deal with Standard Chartered
Facebook
LinkedIn
Digg
Jeff Florian, Senior ReporterTuesday, September 23 - 2008 at 09:02 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site.
AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited.
In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Web Feeds