Investors in the troubled Marina West in Bahrain will press ahead with legal action against the Bahraini developer after nearly three years of waiting for the project to restart.
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The Marina West Owners Association, which represents around 300 investors, said it has also submitted a petition – signed by nearly 100 buyers – to lobby the Bahraini prime minister’s office to appoint an administrator for the project.
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“We want the project to go ahead. We have a petition, a court case and we have groups of investors that are going to see their ambassadors,” said Hassan Al-Husseini, who paid BHD100,000 (US$265,231) for a four-bedroom apartment in 2006.
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“The level of frustration is incredible; most of us are renting alternate homes because our apartments were originally promised in December 2009 – which under the purchase agreement could be delayed until December 2010 – so I am in my third year of renting a temporary apartment and everyone else is doing the same,” he added.
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Read more: http://www.arabianbusiness.com/investors-in-bahrain-project-sue-developer-488600.html
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