Real estate: New Dubai law issued for cancelled and unfinished projects

Real estate: New Dubai law issued for cancelled and unfinished projects

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has issued a new law dealing with cancelled and unfinished projects.

The Decree No. (33) of 2020 on the special committee for unfinished and cancelled real estate projects in Dubai, formed pursuant to Decree No. (21) of 2013, has changed the name of the special committee for unfinished and cancelled real estate projects in Dubai to the Special Tribunal for Liquidation of Cancelled Real Property Projects in the emirate of Dubai and Settlement of Related Rights.

The chairman of the Dubai Judicial Council will appoint the chairman and members of the new Tribunal which will review and settle all disputes, grievances and complaints for which the previous committee did not issue final decisions or judgements. It will also review and settle disputes and complaints arising from unfinished, cancelled or liquidated real estate projects, reported news agency WAM.

The Tribunal is also tasked with the settlement of disputes related to unfinished real estate projects that have been cancelled pursuant to Law No. (13) of 2008 and thereafter referred to the previous Committee by the Real Estate Regulatory Agency (RERA).

If the real estate project is transferred