Hi Guys,

I too have apartments in Palm Springs which I bought as resales.

What Damac are trying to do is con!! They have realised that they will not make any money from the development as construction and land prices have gone up considerably since the launch and they are useing the Force Majeure as a get out clause.

Property prices in Dubai have gone up a lot in the last 4/5 years and one bed apartments on Palm Jumeirah are now selling for 300k+. Gives you an idea of what our properties would be worth.

Why do they not offer us units in the intended development on the new plot of land which they have been allocated on Palm Jabel Ali? My guess is that they will sell the units in the new development at current prices, at our expence!!

I think we have a strong case and should collectively appoint a lawer to fight our cause. There must be around 500 apartments in Palm Springs and if we can get most of the owners on board the cost will be minimal.

I advice everyone not to accept the options they have offered as you will lose a large amount of money that is rightfully yours and you will not be able to persue a claim once you accept!!

Muks