The Master Developers in Dubai have removed the clause that guarantees a residence visa for property buyers from contracts they enter into with sub-developers
“There was a clause in our previous contracts that assured us that master developers will guarantee residence visa. The clause has now been removed,” a developer. Emaar Properties, the master developer of Burj Dubai and Dubai Marina, has sent a notice to sub-developers to hold processing of residency visas until further notice.
If any one was wondering how Dubai’s property market just kept getting more and more expensive, it would seem baksheesh was the reason. In yet another blow to confidence in Dubai’s markets, four employees of Dubai-based real estate developer Sama Dubai have been arrested and are being questioned by Dubai’s Public Prosecution on allegations of bribery and mistrust. One of the people being held is Abdulsalam Almarri, chief executive of Sama Dubai’s The Lagoons project.
Is it just me, or does there seem an inexhaustible supply of new property developments coming out of Dubai? This is the latest in a long line – Sheikh Mohammad Bin Rashid Gardens, the Dh200 billion venture of Dubai Properties, which aims to be the lowest-density development in the region. Situated between Al Khail Road and Emirates Road on 880 million square feet, about 73 per cent of the development will be green and open spaces and 10 per cent will be allocated to waterways.
