Moves are being made to make Dubai Real Estate market more transparent and mature to allow developers and investors get a leveled platform to resolve their disputes. The executive regulations come at a time when it is needed by the market and will help spell the way forward. It is a very positive step for the industry as a whole. Those who have gone ahead with the construction of their projects, require regulations to protect them from speculators. The decree empowers the Land Department in Dubai to cancel projects and offer mediation service for disputes between developers and buyers.
Currently, the Real Estate Regulatory Agency (Rera) already has a mechanism in place to check on the progress of the projects in Dubai. So with respect to the status of the project, this information is already available. The issuance of the new decree will put an end to the impasse existing between the developers and buyers.
Currently, the Real Estate Regulatory Agency (Rera) already has a mechanism in place to check on the progress of the projects in Dubai. So with respect to the status of the project, this information is already available. The issuance of the new decree will put an end to the impasse existing between the developers and buyers.
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