Dubai to issue sweeping real estate law
Dubai Real Estate - Sheikh Mohammed bin Rashid al-Maktoum issue the declaration on the new law, mortgage law aimed and regulating the city active property market.
Khaleejtimes and GUlfnews the leading newspaper in the country release a report Today August 20, 2008 Wednesday saying that the law requires that mortgages be insured, sold by approved banks, registered with the local authorities and that they specify the property value and terms of the load
The decree comes amid a corruption probe involving some of Dubai’s most prominent companies and growing concerns that speculators are inflating prices in the emirate’s frenzied real estate market.
Comments (0)