Regulatory Alerts2024-05-23
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Off-Plan Development Regulations 2024
The Board of Directors of the Abu Dhabi Global Market enacted the Off-Plan Development Regulations 2024 to govern off-plan projects and developers within the jurisdiction. The regulations establish mandatory registers for developers and projects, requiring developers to obtain specific registrations and establish project accounts before commencing off-plan sales. The framework further mandates strict disclosure requirements, restricts major changes to sales agreements, and grants the Registrar comprehensive powers to enforce compliance through sanctions and fines.
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