Dubai Real Estate Investors Come Together

The second island in The Palm trilogy

Investors of the stalled Palm Jebel Ali project being developed by Nakheel have formed a group to support their interests. Mr. Ed Bandari, a Canadian businessman and investor of Dubai real estate, is the primary spokesperson for the group: ‘The Palm Jebel Ali Investors Group’. 

According to the site, PJAinvestors.com, the main objective of the group is: 

set up as a resource for investors of…[Palm Jebel Ali] project as we continue to pursue our rights in regards to safegaurding our investment.

Specifically, this involves engaging Nakheel in such a manner as to ensure that they meet the main objectives … pursued from the beginning:

1)      Creation of an escrow account and transfer of all payments made from investors to Palm Jebel Ali LLC/Nakheel into it ;

2)      Obtain proper registration for all property purchases as per the laws of Dubai;

3)      Confirmation of construction and anticipated handover dates of properties; and

4)      For investors where Nakheel is in breach of contract, to remedy the breach in a fair and equitable manner by offering proper compensation according to contract to investors who wish to cancel their contract 

All Palm Jebel Ali investors are encouraged to register with the group by sending an email to Ed Bandari at info@PJAinvestors.com.