Under the leadership of Managing Partner Ahmed Adly (pictured), Al Adly and Co. has successfully secured a multi-million dirham arbitration award against a prominent real estate developer in the United Arab Emirates before the Dubai International Arbitration Center (DIAC).
Despite the completion of the subject properties and their readiness for handover, the legal team navigated the complexities of the case to obtain a favourable judgment. The tribunal’s ruling clarified that the issue was not the completion status of the properties but rather the delay in their delivery by the specified date, constituting a breach under UAE Laws.
As a result, the sales and purchase agreements were terminated, and the tribunal directed the real estate developer to reimburse all monies paid by the party, in addition to reasonable fees and interest.
Currently, Al Adly and Co. is actively engaged in executing the arbitration award before the Dubai Courts.