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Deyaar denies social media rumours of legal win against Nakheel

Deyaar denied having any legal cases against Nakheel, and said it would disclose the outcome of its case against Limitless after the courts have reached a decision

Dubai developer Deyaar denied social media rumours claiming it had won a court case against Nakheel.
Dubai developer Deyaar denied social media rumours claiming it had won a court case against Nakheel.

Deyaar Development has denied rumours allegedly circulated on social media claiming that it has won a court case against fellow Dubai developer Nakheel. 

The developer issued a statement to the Dubai Financial Market on 20 September refuting claims made online that it had won a legal case against the developer behind Dubai's Palm Jumeirah island.

“In has come to our notice that some rumours are circulating [on] social media about a court case judgment in favour of our company. We would like to clarify that the company has no legal cases with Nakheel,” Deyaar said.

READ: CEO optimistic despite Deyaar's 2.6% drop in H1 2018 net profit

While Deyaar does not have a legal case with Nakheel, it appears to be involved in a legal battle with Limitless, a fellow company of Nakheel.

A final decision is still pending on the case against Limitless, and in its statement, Deyaar said that it would disclose the outcome “of the final judgments” after the courts have reach a decision.

Deyaar calls itself one of the largest real estate developers in Dubai with residential and commercial projects in Business Bay, Dubai Marina, Al Barsha, Dubai International Financial Centre, Jumeirah Lake Towers, Dubai Production City, Dubai Silicon Oasis, Al Barsha South, and Al Barsha Heights.

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Construction Week - Issue 727
Feb 03, 2019