| 12-10-2008 14:55:22 |
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New Regulations For Real Estate in Dubai |
| 10 Jul 2008 |
| With the Dubai Real Estate market effectively in its infancy new regulations are to be imposed on master developers with regard to transfer charges for properties, currently developers charge an administration charge for registering properties initially and at transfer and this charges can be as high as 6%. The new proposal is to limit this sometimes extremely high percentages to a fixed administration fee rather than a percentage on the property. With some properties being brought by Investors and being held for a relatively short time this practise is very unpopular and resulting in many complaints to the regulatory authorities.
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