Dubai begins stripping buyers of titles
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Dubai begins stripping buyers of titles

Dubai begins stripping buyers of titles

The Dubai Land Department has started to deregister properties, stripping buyers of their titles, The National has reported. Letters were sent on behalf of developers that have completed 80% or more of a project. Seized properties will be auctioned by the department, with the funds going to the developer unless the sales generate a surplus, which will be passed on to the original buyers.

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    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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