Cancellation of sale agreements, not a level playing field yet

The recently published Executive Council Decree No. 6 of 2010 changes the way in which sale and purchase agreements (SPAs) for off-plan properties in Dubai can be cancelled. The decree supplements the provisions of Law No. 13 of 2008 which established a registration system for offplan sales. Although the decree covers a range of important issues in this area, it is the articles that deal with the cancellation of SPAs that will be of most interest to purchasers of off-plan properties.

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Lawyers Jerry Parks

This article was written by Jerry Parks and Scott Flint and featured in the August 2010 edition of Property Monthly and is reprinted with the kind permission of Al Nisr Media FZ LLC.