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    Jo Hopworth on Justice For Natalie – Na…
    Mariam on Criminal Complaint filed in Ge…
    Martin Kraeter on ACI Dubai Funds filed bankrupt…
    Independent Observer on Iranian’s lawsuit reveals roya…
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    Dubai Citizen on Al Fajer Properties Case…
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    Benson Fu on Shahram Zadeh against Al Fajer…
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  • RSS Dubai United Arab Emirates Property Real Estate Debt Fraud Developer Investor Court News

    • Criminal Complaint filed against Al Fajer Properties Sheikh Maktoum
      Criminal Complaint filed in Germany against Sheikh Maktoum Hasher Maktoum Juma Al Maktoum CEO of Dubai Developer Al Fajer Properties The Dubai Sheikh who mislead and extort a German Couple  Germany – Dubai 2011 A German elderly couple , today 80 + 50 years old who have been Dubai Tourists since a decade, bought in 2005 an apartment at Nakheel´s Dubai Residen […]
    • UAE: Human Rights Blogger, Sorbonne Lecturer Charged With ‘Humiliating' Officials
      source Human Rights Watch www.hrw.org (Beirut) - The United Arab Emirates attorney general should immediately drop all charges against five pro-democracy activists to halt their trial, Human Rights Watch said today. The charges of "humiliating" top officials relate solely to the defendants' peaceful use of speech to criticize the UAE governmen […]
    • Nakheel Dubai Sunland Case
      June 5, 2011After 21 hearings, Chris O'Donnell, the Australian chief executive of Dubai's major developer, Nakheel, came to the defence of his former colleagues Matthew Joyce and Marcus Lee. Mr Joyce and Mr Lee are accused of profiting from the sale of land that had been earmarked for a colossal high-rise development, which was to include the futur […]
    • Dubai Nakheel CEO decided to leave the company
      Dubai June 7, 2011 Nakheel said on Wednesday that its CEO Chris O'Donnell had left the company "after completing his contract terms". O'Donnell, an Australian who joined the developer in 2006, said he had decided to leave Nakheel following five years spent with the company, the statement added. O'Donnell has overseen a traumatic time […]
    • Owner of Dubai Developer Damac Hussain Sajwani files case against Egypt corruption ruling
      Dubai property developer Damac said on Tuesday it had filed an international arbitration case against Egypt over a land dispute and the conviction of its chairman and owner, Hussain Sajwani.A Cairo court last week sentenced Sajwani in his absence to jail and ordered him to pay a $40.5 million fine in connection with his 2006 purchase of land at Egypt's […]
    • Dubai Palm Jumeriah - Investors plan to take legal action
      Investors in Dubai Palm Jumeirah’s Golden Mile complex will this week serve the developer behind the project with a legal ultimatum to hand over their units or issue them with a refund.Up to ten investors in the luxury complex plan to issue Souq Residences with legal notice in a bid to force a resolution to a dispute that has been ongoing for more than a yea […]
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Archive for November 17th, 2008

Dubai Land Department registers 80,000 units in online scheme

Posted by 7starsdubai on November 17, 2008


Land Department registers 80,000 units in online scheme

More than 80,000 units have already been registered through Dubai Land Department’s new online application system.Called Oqood, the new system will enable effective implementation of Law No 13 of 2008 for regulating the interim real estate register in Dubai. According to the department, details of residential apartments, villas, offices and retail shops for 230 developers have been entered during the preliminary phase of the programme.

Mohammed Sultan Thani, Assistant Director General, Excellence and Organisation Governance, Dubai Land Department, said: “Dubai has witnessed the issuance of specific real estate laws that prioritise the interests of the country and all stakeholders.
The laws also seek to establish trust in the market, attract foreign investment and sustain the sector’s growth.

The latest among them is the law that focuses on the interim real estate register.”Interim registration is essential for the real estate market and is considered a pioneering step covering even off-plan sales transactions. The law protects the interest of all parties through closely monitoring sales transactions. The launch of the online application will significantly facilitate the entire process.

“Developed by Emirates Real Estate Solutions for the Dubai Land Department, the Oqood online interim registration process will lead to minimising conflicts arising between developers, investors and sellers, while contributing to cutting down the escalating off-plan selling and reselling costs.Charges will be the same as levied by the Dubai Land Department – one per cent of the total value paid by the seller and one per cent to be paid by the consumer.Ahmad Al Qaizi, Chief Executive Officer, Emirates Real Estate Solutions, said: “The launch of online application Oqood will help ensure the availability of detailed data on private proprietorship of all projects that have been sold off-plan in Dubai. It will also protect customers’ rights through safeguarding against any manipulation.The department will also offer additional training courses to all real estate developers to introduce them to the mechanisms of the Oqood programme. The dates of these courses will be announced soon.

Following the issuance of Law No 13 of 2008, developers now have to register all their units prior to launch of the project and only then can they proceed with their sales.Law No 13, which regulates initial property registration in Dubai, aims to create further consumer ease and protection within the Dubai real estate market by introducing a mandatory system of pre-registration at the Land Department for off-plan sales contracts for property units.

Under the new law, any off-plan sales that are not registered will be invalid.

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Construction on Palm Jebel Ali to slow – The National Newspaper

Posted by 7starsdubai on November 17, 2008


Construction on Palm Jebel Ali to slow – The National Newspaper

Infrastructure work on parts of Nakheel’s Palm Jebel Ali may be slowed in light of current economic conditions, according to Ali Mansour, the project’s director.

A number of bridges are already under construction on the man-made island, and infrastructure work on the lower and left quadrants, along with the spine and lower fronds, is progressing. But construction contracts that were scheduled to be awarded in the latter part of next year and early 2010 will most likely be put back.“

We might slow down the launching of contracts for infrastructure work on the components of the island that are not scheduled to be populated until after 2011 or 2012,” said Mr Mansour on the sidelines of Meed’s coastal development conference today.“It’s very reasonable to do so.
The island’s quite big, so for those districts that are far from being occupied in the near future, we might slow down infrastructure work.”

Palm Jebel Ali is the second island in the Palm trilogy, located in Waterfront. It will feature luxury hotels and homes built on stilts over the water, which together spell a poem written by His Highness Sheikh Mohammed bin Rashid al Maktoum.

Mr Mansour added that the areas which could be affected are the upper right and left quadrants of the development
mailto:development.aguiffrida@thenational.ae

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Buyers shun off-plan units at property show – The National Newspaper

Posted by 7starsdubai on November 17, 2008


Buyers shun off-plan units at property show – The National Newspaper

The property market is now dominated by sellers trying to offload their mostly yet-to-be-built apartments, but the few buyers there are only interested in completed units, brokers at a property show said.Industry executives attending the Property Shopper show in Dubai over the weekend said few buyers were to be seen.

The show was intended to bring estate agents and buyers together; instead, brokers were inundated with requests from sellers to help sell off-plan units they had bought in projects that had yet to break ground or were not yet completed.

“Most of the people who came were looking to resell their properties and very few were interested in buying off-plan,” Kameel Jabbour, the managing director of Dubai-based New Market Real Estate said. “(Buyers) were concerned about which projects would continue or not, and would only inquire about distinguished properties. Usually during a show we would conclude deals, and in some cases we would also receive payments. But not this time.”

Inquiries mainly concerned studios and one-bedroom apartments with a price of between Dh750,000 and Dh1.5m, brokers said. Demand for rental properties, however, remained high.

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