UAE Vice President and Prime Minister HH Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Dubai ruler, issued a decree, changing the name of the special committee for unfinished and cancelled real estate projects in Dubai set up in 2013.

 

As per the decree, the special committee will be hereafter known as the Special Tribunal for Liquidation of Cancelled Real Property Projects in the emirate of Dubai and Settlement of Related Rights.

 

The new name will substitute the previous name of the Committee in all the legislations applied in Dubai, reported state news agency Wam.

 

As per the decree, the chairman of the Dubai Judicial Council will appoint the new head and members of the Special Tribunal, define the frameworks for its meetings and decision making and judicial processes.

 

It also authorises the Tribunal to review and settle all disputes, grievances and complaints for which the previous committee did not issue final decisions or judgements. It will also review and settle disputes and complaints arising from unfinished, cancelled or liquidated real estate projects.

 

The Tribunal is also tasked with the settlement of disputes related to unfinished real estate projects that have been cancelled pursuant to Law No. (13) of 2008 and thereafter referred to the previous Committee by the Real Estate Regulatory Agency (Rera).

 

If the real estate project is transferred from one developer to another, the Tribunal is authorised to determine the rights and obligations of each developer. If the Real Estate Regulatory Agency (RERA) has cancelled a real estate project, the Tribunal is responsible for liquidating it and ensuring settlement of all rights related to the project, stated the report.

 

The Tribunal will define the rights of investors and purchasers of unfinished real estate projects and settle all disputes, grievances and complaints related to both unfinished and cancelled real estate projects.

 

As per the decree, the new Tribunal is authorised to review both normal and urgent matters and issue judgments or amicable settlements. The chairman of the Tribunal may assign one or more members to review and issue judgments on such matters.

 

The chairman may also form subcommittees, appoint auditors, and issue orders to the trustees of the project’s Escrow account in all matters related to the liquidation of cancelled real estate projects.

 

The decree also details the responsibilities and obligations of the Real Estate Regulatory Agency (RERA) related to supporting the Tribunal in performing its duties and responsibilities. 

 

Rera will prepare detailed reports about unfinished projects and provide its recommendations to the Tribunal to help settle disputes or refer the project to another developer.

 

Following its activation, the decree prohibits all courts in Dubai, including DIFC Courts, to accept any disputes, appeals or complaints related to unfinished or cancelled real estate projects, or those that fall under the jurisdiction of the Tribunal.

 

According to the decree, all decisions and judgements issued by the Tribunal are final and incontestable, and the Execution Court at Dubai Courts will execute the Tribunal’s judgments.

 

The chairman of the Dubai Judicial Council will issue a resolution naming the entity responsible for providing administrative and technical support to the Tribunal, it added.