Your Property Will Be Completed: Why You’re Safe from Delays
Rest assured, your residential complex will be completed on time. UAE legislation provides comprehensive protection for off-plan property buyers. Here’s why you have nothing to worry about.
Your Money Is Secure
Every payment for off-plan properties goes into escrow accounts. Developers cannot access these funds until the project is officially handed over. Fraudulent practices involving investors' money are strictly prohibited, and local authorities rigorously enforce these regulations.
Deadlines: A Maximum of 12 Months
By law, developers in the UAE can extend project deadlines by up to 12 months without penalties. It’s an important factor to consider when purchasing off-plan properties.
That said, the industry’s leading players – Emaar, Meraas, Select Group, and others – consistently adhere to their original construction timelines.
Support in Unforeseen Circumstances
In rare cases of prolonged construction delays, the Land Department will assign a new developer to complete the project. If a court declares the original developer bankrupt, you’ll receive a full refund. Such situations are exceedingly rare in the UAE, where development processes are carefully managed and monitored.
