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CancelledStatus in the DLD project register · project no. 134

Oval Tower

Oval Tower in Business Bay, Dubai: DLD project no. 134, registered 2008, listed as cancelled in the DLD project register. Developer: Dsec Corporation Fzc.
28.5%Completion recorded
2008Registered with DLD
Oval Tower, Business Bay: project render
DLD status

Status and what it means

Oval Tower is a real-estate project in Business Bay, Dubai, registered with the Dubai Land Department (DLD) as project number 134 in 2008 by Dsec Corporation Fzc.

The Dubai Land Department (DLD) project register lists the project as cancelled. DLD does not publish the date of the cancellation decision in its public records; the last inspection is the closest dated milestone. Once a project is cancelled, refund claims from its escrow account are handled through the special tribunal for the liquidation of cancelled real-estate projects in Dubai.

DLD inspections recorded completion of 28.5%. The structure was partially built before work stopped.

The facts on this page are taken from public DLD project records. They are not legal advice. If you bought a unit in this project, the recovery options depend on your contract, your payment history and the escrow position, which we assess case by case.

Project facts

AreaBusiness Bay
DeveloperDsec Corporation Fzc
DLD project number134
DLD statusCancelled
LocationOval Tower, Business Bay, Dubai
Registered with DLD8 November 2008
Construction start (planned)29 January 2008
Planned completion30 April 2012
Completion recorded28.5%
Escrow bankStandard Chartered Bank
Timeline

Registration and inspection history

  1. Planned construction start
  2. Registered with DLD
  3. Planned completion

Status in the DLD project register: Cancelled. DLD does not publish the date of the cancellation decision; the last inspection is the closest dated milestone.

Location

Where the project is

Open in Google Maps · Plot coordinates from DLD records: 25.276987, 55.296249

DLD inspections

Site photos from DLD inspection records

If you bought a unit in Oval Tower

  1. Gather your evidence. Sale and purchase agreement, all payment receipts, escrow deposit confirmations, and any correspondence with the developer.
  2. File your claim. Claims on a cancelled project are made through the special tribunal for liquidation of cancelled projects, which distributes the escrow balance and other recoverable assets among buyers.
  3. Get an assessment. Recovery depends on the escrow position, how much was built, and the developer's other assets. We assess this on a success-fee basis, with no upfront cost.
Investment recovery services Contact us
Questions

Frequently asked questions

Is Oval Tower cancelled?

The Dubai Land Department project register lists Oval Tower (DLD project no. 134) with the status "Cancelled". DLD does not publish the date of the cancellation decision in its public records.

Who was the developer of Oval Tower?

Oval Tower was registered with DLD by Dsec Corporation Fzc (developer no. 45).

Where is Oval Tower located?

Oval Tower is in Business Bay, Dubai. The DLD location record reads: Oval Tower, Business Bay, Dubai.

How much of Oval Tower was built?

The latest DLD inspection recorded 28.5% completion.

Can buyers in Oval Tower get their money back?

Buyers in cancelled Dubai projects can claim against the project's escrow account through the special tribunal for liquidation of cancelled projects. What is recoverable depends on the escrow balance, the amount built and the developer's other assets. Freehold Solutions assesses claims on a success-fee basis.

Nearby

Other cancelled projects in Business Bay

Matex Tower, Business Bay: project renderMatex TowerMatex Estate Limited F.Z.Moon Tower 1, Business Bay: Dubai Land Department inspection photo, August 2023Moon Tower 1Ali Khalifa Thani Alhannawi Real Estate Development L.L.CMarasi Riverside, Business Bay: project renderMarasi RiversideCentral Dubai Projects L.L.CDec Business Tower, Business Bay: project renderDec Business TowerDheeraj & East Coast (L.L.C)Alsaqran Tower, Al Thanyah Fifth: cancelled Dubai project (tower icon)La Residence 3 At The LotusDamac Properties Co (L.L.C)The Bay Residences, Business Bay: project renderThe Bay ResidencesDheeraj & East Coast (L.L.C)
Freehold Solutions

Stuck in a cancelled or stalled Dubai project?

With Mohamed Alazazi Advocates & Legal Consultants we recover investments in cancelled projects on a success-fee basis. No upfront fees: we are paid only when you are.

How investment recovery works
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