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Nakheel ... looking for missing house owners.

No takers for 700 Nakheel homes in Dubai

DUBAI, April 15, 2015

Leading regional developer Nakheel said hundreds of completed homes in Dubai, UAE, lay empty as the buyers who placed deposits on them years ago have not come forward.

Out of 9,000 homes built by the developer in Dubai across various projects, 700 of them remain unclaimed, said a report, citing a senior official.

"As we speak today, 8,300 have been delivered, keys handed over (but) the remaining 700, we are still looking for the customers," Nakheel CEO Sanjay Manchanda was quoted as saying in the 7Days report.

Manchanda was speaking at a recent entrepreneur session at Impact Hub in Dubai.

He said Nakheel was having a hard time in locating these customers. "This could be for various reasons. Maybe the person has left the country, or due to natural causes such as a death," the top official said.

"Or maybe they just paid 10 per cent (deposit) and it's not a major amount for them and they have forgotten about it? Or they have changed their contact information?," he added.

He did not say where the vacant properties are in Dubai. But, the CEO said the situation will be dealt with based on real estate regulations.




Tags: nakheel | Dubai | Homes |

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