Morning round-up: Investor rumbles

A group of German and Austrian investors

[ are demanding their money back from Alternative Capital Invest ]

(ACI), the developer of the

Niki Lauda

Michael Schumacher

and

Boris Becker

towers in Dubai, Nathalie Gillet reports in The National. The group paid about €150 million (Dh779.7m) to ACI as an investment that would be paid back with capital gains, but it looks like the company is having trouble selling assets to pay them back.

Photo caption: Oct. 8: Boris Becker (2nd from left), the former World No. 1 tennis player from Germany, during a press conference to announce the launch of his beach resort and tennis academy which is to be built in Ras Al Khaimah.. Also pictured from left: Achim Bullinger, CEO & Chairman, Middle East Vision Real Estate, Sanjay Chimnani, Joint Managing Director, ACI Real Estate and Robin Lohmann, managing director of ACI Real Estate. Randi Sokoloff / The National

Meanwhile,

Mirdiff Hills

investors

[ have received a 100 per cent refund of their payments from Dubai Investments Real Estate Company after the company cancelled the project ]

, Anjana Kumar reports in Emirates Business 24/7. The project was originally launched last year and was scheduled to be finished in 2010. Khaled Kalban, managing director and chief executive of the development's parent company

Dubai Investments

, said the project was cancelled because investors could not pay for their purchases.