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Real Estate Briefing - Categorized | Developers, Middle East and Africa more

Hundreds of Dubai landlords, tenants duped by real estate firms

Posted on 07 September 2012

At least two dodgy companies in Dubai have duped hundreds of landlords of their rental income as the post-dated cheques issued by them have bounced. Property owners alleged the cheques issued by the two companies, had bounced. Some of the owners said they were in the process of filing police complaints, while some reported the matter to the Real Estate Regulatory Agency (Rera).
Owners also claim that these companies did not have property management licence as the companies have to furnish a guarantee of Dh5 million to run property management business………………………………………..Full Article: Source


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