Sale And Purchase Agreements

We thank you for your questions. In light of the great number of questions mostly regarding Purchasers' possibility to terminate Sale and Purchase Agreements (" SPAs ") when Developers ("Seller") fail to fulfill their contractual obligations, we cover below the largest possible number of inquiries by presenting an introductory post which we hope sets the parameters of current real estate disputes in Dubai.

The issue covered from a general standpoint is can Purchasers of real estate property terminate SPAs when the Seller fails to deliver a property on the agreed date?

Purchasers of real estate property in the United Arab Emirates can seek the termination of a Sale and Purchase Agreements and a full refund of the monies advanced toward the purchase of the Properties based on the provisions of the United Arab Emirates (hereinafter referred to as "UAE") civil law.