THE PEARL QATAR - UDC hand over.
I purchased an apartment in Viva Bahriya at Pearl Qatar some time ago. The contract says that possession date will be December 2009, however there is a one year grace period for UDC to hand over the apartment to us; so, effectively, they have until December 2010 to give us the apartment otherwise, we could act on clause 20.1 of our contract. This clause, under the heading of "Default and Termination" stipulates the following:
"If the Purchaser has fulfilled all his obligations in terms of this Agreement and the Seller is unable to give possession of the Unit within twelve (12) months of the Anticipated Completion Date [..meaning December 2010 for us], as it may be extended pursuant to Clause 6.1, without prejudice to the provisions of Clause 21, the Purchaser may on sixty (60) days written notice to the Seller terminate this Agreement and upon termination, the Seller shall refund all amounts paid by the Purchaser to the Seller on account of the Purchase Price. The Purchaser shall have no further claim against the Seller for any damages, compensation, costs or interest".
My question is the following:
Have you ever heard of UDC giving money back because of late hand-over, or do you think it is realistic for us to think that UDC will give us any money back if the apartment is not ready on time. .
Any serious comments would be appreciated. Thanks
You are lucky because you will live in The Pearl...
Me too.
wow!love that place
mmmmmm
Interesting... so if I bought an appartment, lets say for 1,2M coins (for instance) from second hand in The Pearl...
it could happen that they dont hand over and they compensate me only with (for instance) 800K coins that was the price paid by the original purchaser?
nice bussiness...
War looking for peace,
is like fornication looking for virginity.
Have you ever heard of UDC giving money back because of late hand-over,
Never
do you think it is realistic for us to think that UDC will give us any money back if the apartment is not ready on time. .
Never
It is already happening in Porto Arabia which was the 1st vicity of the Pearl Project