Rera to clamp down hard on developers

[talk]

According to the National, Rera are quickly drawing up new regs forcing developers to have 20% of a building completed before sales can start.

Investors must then pay a 30% lump sum up front and then 70% over construction.

This hopefully is a sign that the govt is finally listening to investors,their worries and fears.

 

[georgihh]

According to the National, Rera are quickly drawing up new regs forcing developers to have 20% of a building completed before sales can start.

Investors must then pay a 30% lump sum up front and then 70% over construction.

This hopefully is a sign that the govt is finally listening to investors,their worries and fears.

Looks like RERA or whoever is trying to stop any construction for some time.
In this way Nakheel and Emaar will be able to sell the unsold units in a shorter period.
This could help boost the prices in the near future

 

[sk302016]

post the link about this news

According to the National, Rera are quickly drawing up new regs forcing developers to have 20% of a building completed before sales can start.

Investors must then pay a 30% lump sum up front and then 70% over construction.

This hopefully is a sign that the govt is finally listening to investors,their worries and fears.

Would uou please post the link about this news?

Thanks!

 

[Gashead]

Can someone please confirm that RERA is only applicable for Dubai?

 

[PropGuy]

Can someone please confirm that RERA is only applicable for Dubai?

yea RERA is only for Dubai.

 

[talk]

Would uou please post the link about this news?

Thanks!

Arabian Business.com Real Esate News

 

[monsi]

Here are a couple of links to the same story: -

Dubai tightens control on developers - The National Newspaper

and

Dubai tightens property rules?

 

[djaan]

too late........................