Rera To Review 27 Projects in DubaiTuesday, May 12, 2009
A total of 27 real estate projects are up for possible cancellation in Dubai as the Land department review the status of them. The ultimate decision to cancel will come by the end of this month, said Marwan Bin Galita, chief executive of the Real Estate Regulatory Authority (Rera). Bin Galita had said earlier that he expected around 25 per cent of projects in Dubai would be cancelled, a figure he said is now "almost the same". "Law No 9 gives Rera the power to cancel. We are studying 27 projects in the committee but no decision has been taken," Bin Galita said during an event to celebrate the department winning an award for best customer service satisfaction. A committee is now studying the feasibility of these 27 projects which are all third party projects, ruling out any chance that master-developed projects could go. Source: Gulf News
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