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Dubai: Investors in Sama Dubai's Lagoons project are concerned about their investments following continual delays in the scheduled completion dates.
Two investors bought two one-bedroom apartments in the Al Sedaifa district in March 2006.
However, due to the completion date being pushed from 2009 to the third quarter of 2011, investors were sent a letter in March highlighting five options of how they wanted to proceed with their investments.
The letter was signed by Abdul Salam Al Merri, chief executive officer of The Lagoons.
Executive chairman of Sama Dubai, Farhan Faraidooni however said that the company is simply undergoing an internal audit and all property transfers will resume in November.
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