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FINANCIAL NEWS
CHI Group files an USD84.1m suit against Nakheel
28 Aug 2011
(MENAFN) CHI Development Group, A homebuilder in Jumeirah Golf Estates, said that it filed an USD84.1 million suit against Nakheel Properties, the project’s master developer over delays in infrastructure construction, reported The National.
CHI Development Group built Lime Tree Valley, a collection of 121 villas along the golf course and was completed almost two years ago, but owners have not been able to move in because there is still no electricity or road access to the homes.
On the other hand, Nakheel Properties’ said that the works at site are advancing and the contractors are on site and progressing work on the development.
CHI’s representing lawyer, Jonathon Davidson, said that CHI’s clients are trying to resolve these issues amicably with Nakheel. Proceedings have been filed ahead of the proposed separation of Nakheel from Dubai World to protect CHI Development Group’s interests and those of its purchasers.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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