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Dubai considering new regulations to curb off-plan sales

: Monday, July 07 - 2014 @ 03:40

The International Monetary Fund (IMF) has said Dubai is considering regulations to limit the sale of properties before they are built to address one of the main causes of the 2008 property crash, Bloomberg has reported. The authorities may also introduce new contract forms for real estate transactions and a property investor law to protect the rights of buyers and sellers, according to the IMF. “The Dubai authorities are completing a review of the off-plan transaction market, and will issue additional regulations, which could slow down real-estate sector price growth, in the coming months,” the IMF said.

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Monday, July 7- 2014 @ 3:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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