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Setting an agreement for an off-plan real estate without binding dates

Is it legal for a Dubai developer to sell an off-plan real estate without setting binding completion and handover dates, having sole discretion over setting those dates?

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Colin Biggers & Paisley Lawyers (Middle East)
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20 Apr 2021, 11:05

Dear Questioner,

An SPA should have clear completion and handover dates.

We would advise against signing any SPA if these aren’t explicitly stated.

Regards,

Momentum Legal & Management Consultancy
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20 Apr 2021, 15:54

Hi,

It is not the best practice as the completion date should be agreed upon and in the absence of such a date, you can rely on the reasonable period or the construction program, otherwise, the agreement can be terminated if the project slowly progressed.

You can contact me via phone or email for further details.

Sayed

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