Quote:
Originally Posted by mpat
Hi there
1) If there is any mention in the contract given to you about the compensation on delay, they shall give it. Or else just forget about any compensation. ( In my contract , with anothe rdeveloper , its said that if its delayed by more than 6 months you can get all your money back.but thats not compensation.)
2)generally DAMAC is a quality developer, no need to see . the things are supposed to be high standards. I have seen the building from outside and it shows a good execution of work.
All the best to you.
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Thanks for the response. There is a compensation clause in the contract. It says that the seller will pay LIBOR but I'm not how that will be actually calculated. I guess we'll see in the summer when we get possession; if there are no more delays!
I was wondering about the finish because there is no contractual obligation for DAMAC to deliver the materials they show in their show apartments, and with the rising construction costs; perhaps they'll be tempted to reduce cost by dropping the standard of materials they use.