Off-plan rules change

New provision for cancellation of contracts to be announced

Good news for buyers in Dubai. Real Estate Regulatory Agency's (Rera) Article 11, Law 13, is being amended to make the sales process in Dubai clearer for all concerned.

The article states that if a buyer defaults on a sales contract, after a 30-day notice period the developer may cancel the contract and return the buyer's money minus 30%.

This clarification of the relationship between buyers and sellers in Dubai is set to be made clearer over the coming days and weeks as the new rules are explained.

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