This week an Indian company is meeting with a group of Irish investors to make good on stalled property schemes in Dubai.
The hundreds of Irish investors who put money in the Dubai Sports City Development through Dublin-based agency Larionovo were furious last year when the project went into liquidation. This left some investors €400,000 in the hole, while others had to refinance their homes, as the three developments—Bermuda Views, Eagle Heights and Profile Residence—had barely broken ground.
Indian firm Smart Investments is hoping to turn things around. Over the next few days, meetings will commence at a hotel in Dublin to discuss how Smart Investments plans to finish construction of the three developments and seek further investment funds.
Smart Investments’ Probir Chatterjee, who secured a deal to buy the Dubai Sports City Development, will address the hundreds of investors, most of whom formed the Dubai Action Group last year.