The seller decides not to sell the property after signing the MOU. What to do?

Dear sir/madam,

I signed an MOU to purchase a property. The MOU was signed by the POA holder of the seller on hard paper. We have been following up with the seller agent and he was keeping us up to date for nearly a month that the NOC is in progress.

Last week when the MOU period expired, the agent informed us that the POA issuer has decided not to sell as he has another offer. I asked the agent about the MOU and the agent said MOU has no value as it is on paper and not in the Dubai Rest application.

Questions:

Can I enforce a paper-based MOU (Form F)? Or due to new rules, it is no longer valid and we made a mistake?

The MOU was for one month and it is about six weeks since we signed the MOU.

Appreciate any advice!