7StarsDubai

Dubai UAE News from the Press Property Market Disaster and More

  • Dubai 7 Stars
  • March 2009
    M T W T F S S
    « Feb   Apr »
     1
    2345678
    9101112131415
    16171819202122
    23242526272829
    3031  
  • Middle East Unrest Update

  • Talk of the Town

    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…
    Rado on DubaiTouristen landen schnell…
    Dubai Citizen on Al Fajer Properties Case…
    Dane on Outlook in concrete- Dubai Wor…
    jamesl fayad on RERA Dubai – Dubai Prope…
    Jacques on Malika Karoum finally arrested…
    James Brown on ACI – Alternative Capita…
    Journalist on Al Fajer Properties-500 Invest…
    ron oakeley on ACI – Alternative Capita…
    Benson Fu on Shahram Zadeh against Al Fajer…
    Monika on RERA – Dubai mulls cance…
    Ali Varahram on Shahram Zadeh against Al Fajer…
  • Top Rated Comments

  • Top Posts

  • 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 […]
  • Top Rated Posts

    • 472,373 visitors 2010
  • Disclaimer 7 Stars Dubai

    This Website of the Blog 7starsdubai.wordpress.com and 7starsdubai.com content still existing media releases and comments from reputated press and websites only. The content of this Website focus to consumer protection for Investors of the Dubai Property market, the UAE and the Middle East. Press Article from the international Press who report about Fraud in relation with Property Investment and Real Estate Developer Investor Disputes in Dubai and the UAE as well reports from the Press about other criiminal acts and Civil Real Estate cases, Lawsuits before the Court in Dubai, the UAE or other countries. Furtheron we show reports about consumer protection and human rights in the Middle East. Actual Topics about the Unrest in Middle East. The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of this site does not constitute advice or a recommendation by us.Communications and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this Web site. We can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on this Web site nor do opinions of contributors necessarily reflect those of us.In no event shall we be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to this Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise. Comment Rules: Although the administrators and moderators of 7starsdubai.com will attempt to keep all objectionable comments off this Blog, it is impossible for us to review all comments . All messages express the views of the author, and neither the owners of this Blog, nor the administrator of this Blog will be held responsible for the content of any message, comment. By agreeing to these rules, you warrant that you will not post any messages that are obscene, vulgar, hateful, threatening, or otherwise violative of any laws. The adminstrator of this Blog reserve the right to remove, edit, move or close any comment (message) for any reason This Blog content still existing media releases and comments from websites only. The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of this site does not constitute advice or a recommendation by us.Communications and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this Blog. We can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on this Web site nor do opinions of contributors necessarily reflect those of us.In no event shall we be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to this Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise. Copyright: The copyright to the text of the blog is held by the author or link as source provided, where applicable. All images displayed are copyright their respective owners and are used either under licence or under the fair use provisions of international copyright law. The information contained in this Web site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this site. Accordingly, the information on this site is provided with the understanding that the authors and publishers are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. Before making any decision or taking any action, you should consult the administrator of this website. While we have made every attempt to ensure that the information contained in this site has been obtained from reliable sources, 7starsdubai.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will 7starsdubai its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages. Certain links in the Web site connect to other sites maintained by third parties that may or may not be presented within a frame on the Web site. 7starsdubai.com has not verified the contents of such third party sites and does not endorse, warrant, promote or recommend any services or products, that may be provided or accessed through them or any person or body which may provide them. 7starsdubai.com has not issued or caused to be issued any advertisements which may appear on these Web sites. We do not review, monitor or endorse any third party web sites linked to Our Site and We are not responsible for the content of any web site linked to Our Site. Your access to any web site that links to Our Site is at your sole risk. We are not responsible for the information, material, products, or services contained on or accessible through such other web sites and will not be liable for any form of loss or damage arising as a result of or in connection with your visits to such web sites. Any links to other web sites are provided merely for the convenience of the users of this Site and the inclusion of these links does not imply an endorsement of the linked web sites or the content therein. In addition, you agree not to link your web site or any other third party web site to Our Site or frame Our Site as part of any other web site without Our express prior written consent. We reserve the right, at any time and for any reason not prohibited by law, to deny permission to anyone to link a web site to, or frame, Our Site. We reserve the right to withdraw Our consent at any time to a link to, or framing of, Our Site at Our sole discretion without notice. Your use of this Site and the operation of these Terms and Conditions shall be governed by and construed in accordance with the laws and regulations of and applicable in Germany You agree, acknowledge, and submit to the Court in Germany having non-exclusive jurisdiction over all and any dispute or difference between us arising out of or in connection with this Agreement. Please review these Terms and Conditions carefully before using this Site. Your use of this Site indicates your irrevocable agreement to be bound by these Terms and Conditions (as may be amended by Us from time to time). If you do not agree to be bound by these Terms and Conditions please stop accessing and using this Site immediately. Warning: We are aware that several times Cybercriminals mirrowed our Website and posted on several Forums, Website comments by misuse of our email adresses. These Cybercriminals registerd several similar looking Domains and installed several 1:1 mirrowed Websites which look like our Website 7starsdubai. We have already taken the necessary steps by filing criminal complaints against the Individuals behind this Identity theft an Cybercrime, by misusing fraudulently our Blog Identity 7starsdubai. In Search engines like Google, Yahoo, Bling and others you should always take a close view to the links. If this links do not originaly start with www.7starsdubai.com or http://7starsdubai.worpress.com/.... you will end on a faked mirrowed modificated Website. The genral Background of this Cybercriminals is a Stalking and Smear campaign, faking stories for their personal use, to discriminate Persons with the goal to destroy their reputation.
  • RSS ZDF Heute Germany

    • Untitled
    • Zwei Deutsche ringen mit dem Tod
      Anschlag in BarcelonaZwei Deutsche ringen nach dem Terroranschlag in Barcelona mit dem Tod. Das teilte der Arzt einer Klinik Bundesaußenminister Sigmar Gabriel bei dessen Besuch in Barcelona mit. Unterdessen verdichten sich die Hinweise, dass der Terroranschlag das Werk einer organisierten Islamisten-Zelle war.Video Terrorzelle in Spanien?Video Weiter hohe T […]
    • "Wir haben keine Angst!"
      Schweigeminute in BarcelonaTausende Menschen haben in Barcelona der Opfer des Anschlags gedacht. Gemeinsam mit dem spanischen König und Ministerpräsidenten versammelten sie sich zu einer Schweigeminute. Bei dem Attentat starben 13 Menschen. Mehr als 100 wurden verletzt, darunter auch 13 Deutsche.Video Ratlosigkeit in BarcelonaBilderserie Weltweite Anteilnahm […]
    • IS ändert Strategie
      Terror in EuropaDie Terrororganisation Islamischer Staat gerät in ihrem Kerngebiet in Syrien und Irak immer weiter unter Druck und ruft zu Anschlägen in westlichen Ländern auf - auch mit einfachsten Mitteln. (Video)
    • Bannon verlässt das Weiße Haus
      Trumps Chefstratege gehtUS-Chefstratege Stephen Bannon verlässt das Weiße Haus. Eine Sprecherin Trumps erklärte, Stabschef Kelly und Bannon hätten sich an diesem Freitag darauf geeinigt, dass dies Bannons letzter Tag im Amt sei.Video "Aus" für Chefstrategen BannonVideo Trumps Rückhalt bröckeltVideo Kräftemessen: USA und ChinaVideo Rechte Gewalt rel […]
    • Merkel verbittet sich Erdogans Einmischung in Wahl
      Deutsch-türkische BeziehungenBundeskanzlerin Angela Merkel hat sich die Einmischung des türkischen Präsidenten Erdogan scharf verbeten. Er hatte die türkischstämmigen Wähler aufgerufen, bei der Bundestagswahl nicht für die CDU, die SPD oder die Grünen zu stimmen. Sie seien "alle Feinde der Türkei".Video Der Fall YücelVideo Türkei-Krise: Erdogans An […]
    • Wollen die Wähler den Wechsel?
      #wahldeBleibt alles beim Alten oder kommt der große Umschwung? Ein Indikator gibt früh Aufschluss darüber, wo es bei einer Wahl langgeht, und das ist die Frage: Gibt es eine Wechselstimmung? #wahlde: der etwas anderen Blick hinter die Kulissen der Berliner Politik.Video #wahlde - Wechselstimmung?Video #wahlde - ProgrammeVideo #wahlde - FlüchtlingeVideo #wahl […]
    • Finnland: Zwei Tote - Polizei schließt Terror nicht aus
      Messerattacke in TurkuIn der finnischen Stadt Turku hat ein Angreifer mehrere Menschen niedergestochen. Zwei starben an ihren Verletzungen. Sicherheitskräfte schossen dem mutmaßlichen Angreifer in die Beine und nahmen ihn fest. Die Polizei hat bislang keine Hinweise auf einen Terrorakt, kann aber nichts ausschließen.Video Messerattacke in Finnland
    • Bayern gewinnen gegen Leverkusen 3:1
      BundesligastartAuch wenn die Partie teilweise bei strömendem Regen stattfand, liegt Rekordmeister München auf Kurs: Die Bayern bezwangen Leverkusen mit 3:1. Angesichts einer starken zweiten Hälfte der Leverkusener, ist das Ergebnis für die Münchener allerdings schmeichelhaft.
    • Parlament in Caracas entmachtet
      VenezuelaDas von der Opposition dominierte Parlament in Venezuela ist offiziell entmachtet worden. Es hat damit keine Entscheidungsgewalt mehr. Die neue Verfassungsgebende Versammlung nahm ein Dekret an, mit dem das Gremium die Aufgaben der Nationalversammlung übernimmt.Video Trump droht VenezuelaVideo Venezuela auf dem Weg in Diktatur?Video Versammlung in V […]
    • Mortler warnt vor US-Cannabis-Lobby
      DrogenbeauftragteDer Anteil gefährlicher Wirkstoffe in Cannabis ist heute etwa vier Mal so hoch wie in den 1970er Jahren, sagt Marlene Mortler (CSU), die Drogenbeauftragte der Bundesregierung. Es müsse Schluss sein mit diesen vom Lifestyle und von der industriellen Cannabis-Lobby getriebenen Verharmlosungsdebatten.Video Hilfe für Kinder von SüchtigenVideo Ca […]
    • Schweres Unwetter in Freiburg
      Heftige NiederschlägeWegen Unwettern musste die Polizei in Freiburg mehr als 50 Mal ausrücken. Auch in anderen Landesteilen warnten die Meteorologen vor Gewittern. Immerhin: Auf einen mancherorts windigen und regnerischen Start ins Wochenende soll ab Montag der Sommer folgen.
    • Untitled
    • Marihuana-Plantage in Baumkronen
      19.08.17 00:27 | Die Polizei hat in einem Augsburger Wald ein ungewöhnliches Versteck für eine Marihuana-Plantage ausgemacht. Wie die Beamten mitteilten, hatten Unbekannte zahlreiche Töpfe mit Hanfpflanzen in rund 25 Metern Höhe in Baumkronen versteckt. Dort und an anderen Stellen im Wald fanden die Ermittler insgesamt 275 Marihuana-Gewächse mit einer Größe […]
    • E-Mail-System des US-Außenministeriums weltweit zeitweise ausgefallen
      19.08.17 00:17 | Das E-Mail-System des US-Außenministeriums ist am Freitag für knapp zwölf Stunden fast komplett ausgefallen. Die Panne betreffe jenen Teil des Systems, über den nicht geheime Nachrichten versendet werden, verlautete am Freitag aus dem Außenministerium. Eine Hackerattacke sei es nicht, hieß es. Das Außenministerium hatte 2014 schon einmal das […]
    • Kenias Opposition legt Einspruch gegen Präsidentenwahl ein
      18.08.17 23:59 | Kenias Opposition hat den Wahlsieg von Präsident Kenyatta vor dem Obersten Gericht angefochten. Kurz vor Ablauf einer siebentägigen Einspruchsfrist reichte Oppositionsführer Odinga am Freitag in Nairobi ein 9.000 Seiten umfassendes Dokument ein. Ein Vorwurf lautet, dass die Computer der Wahlkommission manipuliert worden seien, um einen Wahls […]
    • Anschläge in Spanien: Fahndung nach Mietwagen in Frankreich
      18.08.17 23:24 | Die spanische Polizei fahndet nach den Anschlägen von Katalonien nach einem Lieferwagen, der möglicherweise die Grenze nach Frankreich überquert hat. Der Wagen sei am Donnerstag von Verdächtigen der Anschläge in Spanien gemietet worden, verlautete aus französischen Sicherheitskreisen. Die Polizei in Frankreich fahnde landesweit nach dem Auto […]
    • Wall Street schließt im Minus - Sorge um Trump-Reformen
      18.08.17 23:19 | Sorgen um die Pläne von US-Präsident Donald Trump zur Ankurbelung der Wirtschaft haben die Wall Street zum Wochenausklang ins Minus gezogen. Zwar erhielt der Markt Auftrieb durch den Abgang des umstrittenen rechten Chefstrategen Steve Bannon, der von Trump entlassen wurde. Dies reichte jedoch nur für eine vorübergehende Erholung. Bannon gehö […]
    • Highlight
      Von Westen her Gewitter, bis 31 Grad

What must an investor do if he suspects a developer isn’t meeting construction milestones?

Posted by 7starsdubai on March 9, 2009


original published GulfNews

Article (17) of Law No (8) 2007 is introduced, what must an investor do if he suspects a developer isn’t meeting construction milestones?

Law No (8) of 2007 came into effect on June 28, 2007.

Article (17) details circumstances under which a developer shall be cancelled from the Register of Developers. One circumstance is that the developer has failed to start construction within six months of being granted permission to sell off-plan, except
if the developer has an acceptable excuse.

No developer may carry out real estate development activities unless it is on the Register of Developers. Under Article (17), the Land Department is in charge of the Register of Developers and therefore where an investor feels a developer
is in breach of Article (17) and they cannot sort the matter between themselves, the investor should approach the Land Department
to help resolve the issue.

If I’m already an off-plan investor, will the new law be
of assistance to me too?
Law No. (8) of 2007 applies to contracts between investors and developers whether signed before, on or after June 28, 2007. While that law does not oblige a developer to use a payment schedule that is linked to construction milestones, RERA has recently made three recommendations.

Firstly, each developer will be restricted from collecting more than 30% of payments on developments until the developer started construction. Secondly, each developer will be precluded from selling off-plan until (i) it owns the land to be developed and (ii) it has completed
at least 20% of construction.

Thirdly, each payment plan must link payment installments to milestones in  the construction of the development. Although these recommendations are not yet law, this seems to be
RERA’s intention.

Under the new rental regulation, how do I know whether the cap applies to the property I’m leasing?

If property was rented during 2008 and the rent in 2008 was between the average standard rent and 75% of the average standard rent, then the rent in 2009 may not be increased (certain increases are permitted where the 2008 rent was less than 75% of the average standard rent).

A property’s average standard rent will likely be halfway between the low figure and the high figure for rents in that area in Dubai. (For details go to http://www.rpdubai.ae.)

I’ve heard that if investors have disputes with a developer and want to pursue matters further, they need to put down 7.5% of the total cost of the investment as a down payment, before they will be heard at a tribunal. Is this true?
In the contract between the investor and the developer, there will be a clause that states whether disputes are to be resolved before the Dubai Court or at arbitration. This clause will state the conditions (if any) that must be satisfied before a dispute goes to court or to arbitration.

 
It is possible that a specific contract would require payment of a given percentage of the purchase price,
but there are no hard-and-fast rules.
The investor should carefully read the terms of his contract in order to establish his position.  

Advertisements

Sorry, the comment form is closed at this time.

 
%d bloggers like this: