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Dubai: No more frustration over project delays PDF Print E-mail
Thursday, 25 September 2008 08:45

Dubai:  Investors in Dubai's property sector will no longer have to bear with frustrating project delays, thanks to new laws that hold developers accountable.

The introduction of Law 13 and Law 14 aims to increase transparency and honesty in Dubai's property sector, according to senior officials at Dubai's Land department.

"After registration and approval, all the property information is entered into the system. We will know all details about the projects. There is no reason for delays," said Mohammad Sultan Thani, Assistant Director-General of the Land Department, during a media roundtable yesterday.

Law 13 requires all developers to pre-register off-plan properties with the land department to create a full database of property transactions.

Law 14, or the mortgage law, makes it easier for banks to secure proof of land titles.

Both laws came into effect last week

Gulfnews: No more frustration over project delays

 
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