Disgruntled investors in Tameer Towers are planning to withhold payments for the Abu Dhabi project in protest at, what they claim is, a lack of progress on the AED6bn ($1.64bn) development.
The Tameer Towers Group, which represents around 50 investors with a combined investment of AED 100m in the project, have accused developer Tameer Holding Investment of becoming increasingly aggressive in payment demands for its flagship scheme.
They claim the Dubai-based company has issued threats of cancellations to investors as part of new payment schedules issued without warning.
arabianbusiness.com
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