Dubai Land Department is developing seven new laws that will be adopted in the next two years, with the aim of regulating the housing market and prevent speculation and bubble formation, reported online edition of the Emirates 24/7 . The rapid growth of Dubai's housing market continues - the market volume for the first six months of this year grew by 30%. Head of the Dubai Land Department notes that the existing laws have already attracted foreign and local investors, as well as the increased competitiveness of the sector real estate in Dubai. The new laws are aimed at preventing the formation of a bubble in the real estate sector, the protection of investors' rights, limiting the rapid resale of objects under construction. There will also be implemented Tayseer Tanmya and initiatives related to the financial restructuring and the developers and the resumption of suspended projects. Other programs will be used to control the activities of homeowners and landowners. It is expected that the new legislation will further strengthen the legal structure of the Dubai property market and to maintain the achieved growth in the private real estate sector. HomesOverseas.ru
Dubai authorities adopt new laws regulating the housing market
06.08.2013
Homesoverseas.ru editorial office
25
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