Dubai’s real estate authorities are likely to step in to cool down the off-plan residential sales rush, which, if left unchecked, could have created the risk of too much supply coming in at the same time. Developers with upcoming off-plan launches are now expected to finish 50 per cent construction before they can start selling. […]
Joint venture formations hinge on the details
Joint venture agreements have become an increasingly common way to fund projects in the UAE, especially in the area of real estate. Agreements ranging from
Make sure the Oqood certificates are issued on time
In recent months, it has been highlighted that for a number of new launches by private sector developers, the “Oqood” contract has not been registered. This has served in many cases as a marketing tool in order to facilitate speculation and entice the customer. This issue needs to be highlighted both for the investor/end user […]
Checks and legal issues that you should be familiar with
Whether during periods of recession or mutations, there has rarely been a subject of equal interest, such as a check in the UAE. From a legal perspective, it is therefore necessary to protect the rights of the party who received the check and to clarify the procedures clearly. The rights of the affected party are […]
Construction disputes needn’t be long drawn affairs
The passage of Law No 16 of 2011 in Dubai allows for parties to voluntarily opt for common law courts of the DIFC to settle their disputes. Given the nature of the industry – where one contract between developer and contractor often mutates into a number of contracts with the subcontractor – the passage of […]
