Dubai state regulator 'needs to play bigger role'

Published: 09 August 2010

Property investors in Dubai need to be supported by the property regulator in dealing with developers, claims one industry figure

There is likely to be a trend for more grievances to be taken to court as more developers invoke the "force majeure" clause, Emirates 24/7 has reported

In an interview with the site, associate Ashraf Sayed said: "There are some developers who will provide all types of excuses to explain why compensation is not due ie force majeure, even though it may be provided for under contract

"We would like to see the Real Estate Regulatory Authority RERA play a bigger role in this respect and regulate/penalise developers that delay without pre-determined reasons"

RERA has taken a number of steps to introduce more transparency in the market, including introducing more training for valuation experts

Another property expert advises investors to make sure contracts they have with developers contain compensation clauses

This could save court action and difficulties further down the line