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Dubai investors to get full refund if developers default on handover

Posted on 30 April 2012

Property investors in Dubai will be eligible for cancellation of their contracts and may seek “full” refunds if the real estate developer fails to provide the promised unit or services within a specific timeframe, according to a proposed new Investor Protection Law.
From a delay in handing over of units to a failure to deliver promised facilities as per the sales contract, the proposed law gives property investors in Dubai the right to seek cancellation of their contracts and get “full” refunds………………………………………..Full Article: Source


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