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Rera to rank Dubai developers
- United Arab Emirates: Saturday, January 03 - 2009 at 10:04
In a new system to be introduced by the Dubai Real Estate Regulatory Authority (Rera) this year, Dubai property developers will be ranked by financial stability and market experience, The National has reported. A regulation requiring developers registering off-plan projects to fully own the land first will also be implemented. The evaluation is aimed at reducing the number of developers, and to give Rera greater control and reinforce investor confidence as falling prices, fraud and contractual disputes hit the sector.
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Medilyn Manibo, Assistant News EditorSaturday, January 03 - 2009 at 10:04 UAE local time (GMT+4)
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