Your property not on Dubai cancelled list? What to do

7 out of 10 members of UAE’s ultra-rich club reside in Dubai. [Shutterstock]

Investors in projects that have not been listed with the cancelled real estate projects committee will have to liaise with the Dubai Land Department (DLD) to know when it will be transferred to the committee, according to Dubai Courts.

“Investors should check with DLD about the status of their project and when will it be transferred to the committee, as the committee relies on lists of cancelled projects sent by DLD,” it states.

As to when the hearing will begin on projects on the cancelled list, Dubai Courts says there is no specific period set for it and any hearing on new projects will commence only after the previous list is finished.

Investors are, therefore, advised to check the court’s website to make sure if their project is listed, it adds.

On Sunday, Emirates 24|7 reported that 166 projects had been named in the cancellation list with the committee currently hearing 17 projects, all of which were launched by Reliance Estate Development.

Read: New list of cancelled Dubai property projects; where refunds expected

In July 2013, the Dubai government issued Decree No. (21) of 2013 to set up a special legal committee for the liquidation of cancelled property projects and the settlement of rights disputes, related to such projects.

“The committee will aim to resolves disputes and issue refunds to investors by auctioning the project,” DLD Director-General Sultan Butti bin Mejren has said.

Previously, the Real Estate Regulatory Agency, the regulatory arm of DLD, has said that investors in cancelled projects will be notified through email, but they had to have registered in the Oqood system.

Emirates 24|7 reported in November 2014 that 43 stalled projects worth over Dh10 billion had been revived through the DLD’s real estate project revival initiatives.

Read: Dubai restarts 43 projects worth over Dh10 billion

 

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