Property investors can always register their complaints or seek clarifications from the Dubai Land Department (DLD) by going to their Deira headquarters, but they have a golden chance to get answers directly from the top officials, starting today (Tuesday).
“A selection of competent members of the DLD will be available to communicate directly with the public and answer questions at the International Property Show,” the department said in a press statement.
The three-day show opens on Tuesday at the Dubai International Convention and Exhibition Centre.
S. Falio, who invested in a project in Sports City, says he will be going to the exhibition to meet DLD officials.
“I have already registered my complaint with the department, but I haven’t got any reply from them. I would go there and try to speak to an official to get some answer from them. At least, by meeting them there I can remind senior officials of my project,” he told Emirates 24|7.
Anand Sharma, an investor in a project launched in International City phase 3, says: “The project never got off the ground. There is no construction activity at site. I want to know from the department why they are not cancelling the project and offering me a return. The developer offered me a swap option but not a refund.”
Sara J, a resident of Dubai Marina, says: “I have invested in a property and the project is delayed almost 18 months. Still now, we haven’t got a final date for completion. We’re told that we will get a reply to our queries, which sometimes do come, but I want to take this opportunity to meet Land Department officials to get an answer from them.”
Over 70 countries are participating this year, with a combined vision of boosting the UAE real estate market, ensuring its recovery unfolds at a rapid pace with the launch of mega-projects to restore its former glory.
We reported in January that the number “on hold” projects in Dubai declined to 253 by end of December 2012 from 291 reported in March 2012 with 22 projects getting completed in the last nine months of 2012. The information was revealed in Dubai government’s new bond prospectus released on January 17.
Real Estate Regulatory Agency, the regulatory arm of DLD, said 187 projects have been completed since the beginning of 2009; 253 projects are on hold; 232 projects are likely to be completed in due course.
Each of these 253 registered projects are likely to qualify for either the Tayseer or the Tanmia initiative, the DLD has stated the prospectus. The two initiatives were launched to restart and complete stalled projects in the emirate.
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