A number of owners and investors in the Joya Dorado project in Arjan, Dubai, have expressed growing concern over the continued delay in the handover of their residential units despite the project being close to completion.
According to the investors, many purchased their units several years ago from Green Yard Properties Development with the expectation of receiving handover in line with the timelines outlined in their Sale and Purchase Agreements (SPA). Several units were expected to be handed over as early as December 2024, yet handover has still not taken place.
Owners stated that the prolonged delay has placed significant financial and personal pressure on many investors and families, with some continuing to bear both mortgage obligations and rental expenses while waiting to receive their properties.
Over recent months, a number of owners have conducted several follow-up visits and meetings with the relevant regulatory authorities, including the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA), seeking clarification on the project's status and the remaining procedures. However, according to the owners, there is still no clear timeline for final handover.
Investors further indicated that, based on the information available to them, the project has reached an advanced stage of completion, with only limited finishing works and final remarks remaining. They noted that the continued delay despite the project's near-complete status has increased uncertainty and concern among owners.
Several owners also stated that obtaining clear updates and responses from the developer has become increasingly difficult in recent months. In addition, some investors expressed concerns that they have not been permitted to access the building or conduct inspections of their units, contributing to the ongoing lack of clarity regarding the project's final status.
The investors emphasized that they are not seeking escalation but rather a practical and fair solution that would help facilitate the completion of the remaining procedures and the handover of units as soon as possible while safeguarding the rights of all parties involved.
In their appeal, the owners reaffirmed their confidence in Dubai's regulatory and judicial systems and expressed hope that a solution can be reached that protects investors' rights and reinforces Dubai's reputation as one of the world's leading real estate investment destinations.
