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dubai law no. (8) of 2007 was enacted to provide legislative protection
to purchasers in off-plan (le., pre-construction) transactions.
a developer who wishes to sell units off the plan must apply to the
dubai land department to open a guarantee account through which sums
paid by buyers of units off the plan or paid by financing parties shall
be deposited. additional protection has been added through the issuance
of dubai law no. (13) of 2008, which will become effective 60 days
after it is published in the official gazette. it provides for the
creation of an interim real estate register to record all transfers of
real estate units off plan. any sale or other disposition that
transfers or restricts title or any ancillary rights shall be void if
not recorded in that register.
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