Need your input please

[Wael Shami]

Im mike living in abudhabi -UAE. I am a business development director for a group of companies. Since the Abu Dhabi law entitles exapts to purchase property i had purchased 2 apartments through one of the leading developers in the region and im facing major difficulties with cashflow at the moment, which is affecting paying off the outstanding as per the schedulle set. I have tried approaching a back fro morgage however i want qualified especially that banks nowadays are being very strict.

The developer sent me a legal letter recently stating that im in breach of the contract referring to the payment schedulle,in which i have a short period to settle my payments or else they will confiscate the entire amount on both my units.

I have paid soo far a 30 % in one of the units and 15% in the other.

I am trying to settle a win win situation or solution with the companys management inorder not to loose my money.

I have proposed the below and all of these were rejected.

1-consolidating from 2 units to 1 unit and transfer the money into it
2-credit note
3-retain 50% of what i have paid
4-Lease to own

I need your input on this guys. Im trying to think of some other proposals which can make sense and convince them with some thing being feasable and duable for both of us.

I dont want to lose the money paid so far which is around 270,000 dollars in both units.

Please try helping me find soultions to propose to the management.

Appreciate your input on this.