Law N13 of 2008 (as amended by law N19 of 2017)
If a developer’s project is canceled by order of RERA, then the developer must refund the full amount paid by the buyer
Decree N21 of 2013
- All matters regarding liquidation of assets of canceled real estate projects will be decided by the special judicial committee (consisting of a panel of Dubai court judges)
- This law specifically relates to canceled projects only and not “on hold” projects
- The committee liquidates real estate projects canceled by RERA, and settles any debts with respect to such canceled projects, after deduction of liquidation expenses
- The committee considers and decides any issues, demands and claims that may rise between developers and buyers relating to canceled real estate project
- All claims in relation to canceled real estate project will only be considered by the committee and not by the courts in the emirates of Dubai (including not by the DIFC)
- Decisions of the committee are final and binding and may not be appealed.