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Monday, 10 October 2016

Off-plan sales must be stopped, says chairman of Al Habtoor | The National

Off-plan sales must be stopped, says chairman of Al Habtoor | The National:

"The chairman of the Al Habtoor Group has called for an end to off-plan property sales as ­Dubai housing completions reach their highest levels in almost four years.

Khalaf Al Habtoor, who runs one of the country’s biggest conglomerates, urged authorities to prevent property developers from taking money from investors before construction was well under way on new homes.

"You should not take people’s money," he said in an exclusive interview with The National. "You should sell when the building is more than 30 or 40 per cent completed. I would recommend to stop [off-plan sales] completely.""



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