$140m Damac case gets under way

$140m Damac case gets under way. (EB FILE)

The DIFC Courts yesterday heard the case between property developer Damac and Dr Lothar Ludwig Hardt, a German investor in the company.

Lawyers for Dr Hardt told the court that Damac had allegedly used investments from cancelled property projects to fund Park Towers, a twin-tower development located in DIFC.

Dr Hardt is seeking up to $140 million in total damages in the case involving investments in five Damac projects.


Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.


Print Email