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NEW INVESTOR PROTECTION LAW UNDER DISCUSSION

Property investors in Dubai could be soon be able to get a full refund from developers if a project is more than 8 months late.

That’s according to Emirates 24 7.

It’s reporting details of a proposed new investor protection law.

Under the proposed legislation, buyers would get the right to cancel their contracts and get full refunds if a developer fails to deliver a promised unit or services within a specific time frame.

Developers would also have to have swimming pools and other promised facilities ready before handing over keys.

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