IFA Hotels & Resorts expects a loss equal to the adjudicated amount, equivalent to KWD 188,800, following a judgement issued by the Dubai International Arbitration Centre on 28 October 2026, according to a disclosure the company filed on 5 November 2026.
The judgement orders the defendants to pay AED 2,250,000, along with 5% interest from the date of the final judgement until full payment, and dismisses all other claims.
The case, numbered 240007, concerns compensation for a construction contract. The parties are Pacific Real Estate Company and others against Balqis Residence Company and another. The disclosure states that the judgement was in favour of the two parties.
This is the first-instance judgement, as the disclosure lists no appeal or cassation ruling.
