DCC 55/2009/2
Background
An Appellant filed suit No. 217 of 2009 against the Respondent requesting the termination of an agreement dated 15-7-2008 and a provisional request demanding its annulment for not registering the sale in the initial land registry and finally requesting the Respondent refund 60 / 2,812,536 AED and compensate them for loss of profits by depriving him of the investment of this amount in addition to an interest of 12% per annum from the date of receipt of the amount on 30-7-2008 until full payment.
The Appellant claimed that under the agreement, the Respondent sold to him a floor in a building offplan on the basis of freehold ownership with a residential visa worth 18.750244 AED for which he paid 60/2.812536 AED.
However, the Respondent breached its obligations in the sale agreement, did not start implementing the project or taking the necessary procedures to obtain residency in the country.