Hydra Revises Contracts, Softens PenaltiesWednesday, April 15, 2009
Abu Dhabi-based Hydra Properties is implementing a number of measures to counter complaints from buyers about construction delays and unfair price rises on their purchases, reported The National. The company is preparing new contracts that lower the amount that buyers at Hydra Village must pay until the project is completed in late 2011, and it is softening a penalty clause that charged late payers for each day their payment was overdue. The company is also raising its customer service staff to 12 and plans to issue monthly construction progress reports. Source: AME Info
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