DUBAI // The municipality has approved building permits for the fire-wrecked Tamweel Tower but owners face another stumbling block before repair work can start.
The building, in Jumeirah Lakes Towers, has been empty since it was partially destroyed by a fire started by a discarded cigarette in November 2012.
The owners’ association has been negotiating with insurers and the authorities to ensure that work proceeds as quickly as possible.
“Dubai Municipality has approved our proposals for the restoration of the building,” said a spokesman for the association’s board.
“This is very good news. Though it may seem that they took time, in reality they have been more helpful than we expected considering that they did not have a clue about the tower until October.
“The tender documents and the invitation letter to tender are completed and ready to go.”
But the spokesman said a complication had arisen and that they were hoping Tamweel, the developer of the building, would sign the tender documents. The tower is owned collectively by the owners’ association.
“The majority of the board members feel that the owners’ association alone signing may not be in the best interests of the residential owners.
“We are hoping that in the first few days of 2014 these differences will be sorted out under the aegis of the Real Estate Regulatory Agency.
“It is very important for this to be resolved so that progress can be made towards appointing a contractor.”
Tamweel could not be reached for comment.
mcroucher@thenational.ae
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Company%20profile
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Naga
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Scores:
Day 4
England 290 & 346
Sri Lanka 336 & 226-7 (target 301)
Sri Lanka require another 75 runs with three wickets remaining
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FINAL SCORES
Fujairah 130 for 8 in 20 overs
(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)
Sharjah 131 for 8 in 19.3 overs
(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)
