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05 December 2023

$140m Damac case gets under way

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

By Karen Remo-Listana

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.


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