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Real Estate Briefing - Categorized | Developers, Market Moves more

Realty investors in Dubai can seek refund, damages from developers

Posted on 22 June 2012

Developer’s failure to complete or handover a property within a certain time-frame from date specified in the sales contract, deliberate intention of defrauding an investor or altering the specifications of the unit without obtaining requisite permission will soon allow investors to recover all the amount by them.
The draft law regarding the protection of the real estate investor in Dubai was released on Wednesday (June 20) to get feedback, for the first time, from people involved and concerned with real estate investment in the emirate. The department will be receiving feedback until June 29………………………………………..Full Article: Source


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