GLOBALSTAY. DAMAC Tower Paramount

It is more than just a 5 star hotel. The integration of the Cinema theme is very creative & amazing. Loved it

I sued Damac and I spent a couple of years in court before getting back the money I paid as downpayment from them. It was a nightmare, but I finally won the case! I was planning to buy a property in business bay and made the downpayment just to discover the sale price was way below the valuation, hence, the bank asked me to cover the difference which was more that 200k AED as of course, the bank wouldn’t give a mortgage on an overpriced property. Not only Damac didn't warn me this could happen when I asked about the possible hurdles I could face when trying to get a mortgage but also, they stopped the communication with me as soon as the valuation report came out, they stopped replying to my emails, calls, etc. I went to the headquarters and every office begging them to talk about my situation and what we could do, but they even said they didn't have any relationship with me. Had they told me I had to pay the difference or I would lose the downpayment, I'd have done the impossible to get the funds, but I found out they sold the same unit I was planning to buy. A colleague of mine told me she faced a similar issue. It seems it is a common practice of Damac not to communicate clearly, they never issue written documents. In the beginning the sales staff promise gifts like ipads, laptops, etc. and behave extremely pushy for you to pay anything and get hooked. Luckily before making any payment I made Damac send an email saying I could back out from the deal and that would be fully refunded in case the mortgage was unsuccessful and since I had plenty of evidence they were ignoring me, so it was easy to prove that I was serious when I wanted to buy from them. I wouldn't discourage anyone from buying a property in Dubai, by all means this is a good place to invest and a safe environment as I could observe while going through these legal issues. The judge and all the people involved from the court were fair and transparent, and they always made me feel listened and protected. My lawyers played an important role too, they were very professional. Just do your research about the developer, read carefully the contract and any documents and ask as many questions as possible and get the relevant information written and signed by all the parties before making any payment. Thank you UAE!