?

Would the Escrow Account Law No.8 change your mind on Investing in Dubai Property ?

  1. Yes

    13 vote(s)
    81.3%
  2. No

    2 vote(s)
    12.5%
  3. I don't Care

    1 vote(s)
    6.3%
Multiple votes are allowed.
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Dubai issues escrow account law for property sector

Discussion in 'Dubai property' started by wayneis, Jul 25, 2007.

  1. wayneis

    wayneis New Member

    Mentioned all ready on the Dubai Property Forum here The subject is important enough to make a sticky for a while.

    Newspaper link here

    Link to Law 8 Concerning Guarantee Accounts of Real Estate Development in the Emirate of Dubai in PDF format here


     
  2. zombie

    zombie New Member

    After seeing this, I feel it is too late, most major projects have already been launched, & the law does not have retrospective effect. It is only applicable for new projects. So how does it help us?? Those thousands of ppl who have invested billions into dubai??
     
  3. Chaz_The_Sun

    Chaz_The_Sun New Member

    Hi

    I'm just doing a bit of research on the legals of purchasing property in Dubai with a view to buying a property of my own. Could someone please advise if this law ever got passed?

    The biggest fear I have is losing money I've worked hard for all my life and then having no legal recourse?

    Many thanks
    Charles
     
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