There has been much speculation about the release of the new draft Investor Protection, which aims to codify the relationship between investors and developers. Mamoon Ashraf, corporate associate and Jimmy Haoula, Managing Partner at BSA Ahmad Bin Hezeem & Associates LLP (Former Bin Shabib and Associates (BSA) LLP) consider the proposed changes aiming to provide a boost to Dubai’s real estate market.
This article briefly outlines the proposed changes which encompass a number of provisions that impose mandatory obligations on developers to impart clear and accurate information to investors from the pre-contract stage of a transaction. It also discusses the draft Code of Corporate Governance for Developers which has been circulated by RERA.
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|Title:||The draft investor protection law: pros and cons|
|Practice:||Corporate and M&A, Real Estate|
|Authors:||Jimmy Haoula, Mamoon Ashraf|