Dubai Real Estate Market News and Trends
Buyers can approach Property Court for terminated off-plan contracts
Posted: 30 Jan 2009 10:19 PM PST
A senior government official has revealed that property buyers can contest their "terminated" off-plan contracts signed after 31st August 2008 in the newly established Property Court, by going through the Dubai Land Department (DLD). The buyers can also claim compensation from the Property Court, if he establishes a ground for the termination, said Emad Eldin Farouq, Senior Legal Counsel at the
Major property developers in Abu Dhabi reports decline in profits
Posted: 30 Jan 2009 10:28 PM PST
Abu Dhabi property market, which so far was able to cope with the pressure of global slowdown, is slowly beginning to feel the heat, with its two major property developers, the Aldar Properties and Sorouh Real Estate, witnessing considerable decrease in profit during the fourth quarter of 2008. This fact emphasizes that the impact of global credit crisis has been felt on the capital's real 
