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Evaluating maximum compensation criteria for property developers according to the interim real property register in Dubai
Al-Obeidi, A.H1.
This paper presents an assessment of the criteria for setting the
maximum amount of compensation given to a property developer
when a buyer breaches their contractual obligations according
to the law of the Interim Real Property Register in the Emirate of
Dubai. The register gives the developer the power to deduct a
certain percentage of the amount paid to them by the buyer, without
the need to resort to justice or arbitration. Such a power is one of
certain exceptional powers granted to the developer under this law to
encourage property investment in Dubai. This research aims to define
the type of compensation that the property developer deserves, as
well as present the criteria for the maximum amount of compensation
and an evaluation of them. This was achieved by analyzing Article 11 of the mentioned law for accuracy and fairness on this issue, and its
success in balancing the conflicting interests of both parties. One key
result found was that the legislator had not succeeded in balancing
the two parties of the off-plan sale. It is strongly recommended that
the legislator abolish the three criteria on the maximum amount of
compensation and adopt alternative criteria.
Affiliation:
- Private Law Department, Abu Dhabi, UAE, United Arab Emirates
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Indexation |
Indexed by |
MyJurnal (2021) |
H-Index
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1 |
Immediacy Index
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0.000 |
Rank |
0 |
Indexed by |
Scopus 2020 |
Impact Factor
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CiteScore (0.2) |
Rank |
Q4 (Law) Q4 (Sociology and Political Science) |
Additional Information |
SJR (0.164) |
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