Q: I have booked an apartment in Ajman in a project and I have already paid 90% of the payment. The builder's name is [-------], and now they have stopped the project for 6 years. Please let me know how I can recover my money.

Q: Dear Sir/Madam, I purchased an apartment within Dubai Sports City and have fully paid the purchase price. I have received a notification from the land department confirming that the project is being liquidated. The Dubai Rest app displays the purchase price as a fraction of the amount I paid. I have tried contacting DLD via email, but I keep getting transferred between the canceled projects department and the support department. Could someone please help me resolve this issue as I could potentially lose out on any liquidation returns?

Q: I bought an off-plan property in 2014 and paid the full amount, but the developer couldn't complete it and left the country. He didn't register it in the land dept. Now the project has been given to a new developer by the land dept. as it is already 90% complete. The property is not registered in the land dept by the previous developer. The land dept asked me to put a complaint on Dubai Land Department for failure to register by the developer. After the complaint, I received an email from the Real Estate Violation System (RVS) that the property is registered under a different name and asked me to contact the judicial authorities. What would be my property's status in this scenario, how can I get my property? Can I proceed through Dubai courts according to the arbitration law which is mentioned in the SPA for dispute?

The Cancelled Real Estate Projects Law in the UAE was introduced to protect investors when real estate projects face delays or cancellation. It ensures government oversight, transparent liquidation procedures, and fair refunds of investor funds. By setting out clear legal mechanisms and obligations for developers, the law reduces disputes and strengthens investor confidence in the real estate market.

Companies can be wound up by Voluntary Liquidation. This shall proceed as initiated by shareholders or creditors of a company by passing a valid shareholder’s resolution. When a company’s financial mechanism fails, and the company is in financial distress and/ or becomes insolvent whereby it is unable to pay off its debts, the company may file a petition for winding up to the court.

Terminating a property agreement in the UAE is a complex process that requires a clear understanding of the legal framework governing real estate transactions. Investors must navigate various laws, regulations, and contractual obligations to ensure compliance and protect their interests. This article explores the legal aspects of ending property agreements in the UAE and highlights the key considerations every investor should be aware of.

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.