Take what you can get!  It has come to that. In many developments in Dubai there's no hope of completion, and the developer is penniless. 

“My advice to them would be that if a developer is offering them revised payment terms or an alternative property in another development that’s in a more advanced stage of completion – take it,” Richard Bell, an associate with Clyde & Co, told Arabian Business.

Not much point in going to law, say the hig-class legal eagles, because the costs are high, and if you reject an apparently 'reasonable' settlement, it will count against you. 

So go on - settle. You'll never get anything back otherwise. Read the wisdom of Clyde & Co in ArabianBusiness.com