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The Nexus
BUSINESSJun 11 · 11:43 UTCSEMAFORMatthew Martin

Dubai developer invokes force majeure on home sales

Dubai developer Majid Al Futtaim has invoked force majeure clauses in home sales contracts at Tilal Al Ghaf due to disruptions from the Iran war, citing supply chain challenges and rising material costs. The company blames rerouted trade flows for delays in construction materials and higher shipping expenses, impacting project timelines and investor returns.

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Majid Al FuttaimorganizationTilal Al GhafplaceIran wartopicforce majeuretopicStonehavenorganizationDubaiplaceKuwait National Petroleum Co.organizationQatarEnergyorganizationJebel Ali portplaceBloombergorganization
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