Dubai’s developers raise the stake higher against speculation | GulfNews.com:
"The stakes are being further raised against speculative buying and selling of off-plan property in Dubai. Now, developers are not giving the green signal to those off-plan purchases where the investor has paid up to 50 per cent of the property cost, say industry sources.
“We have received feedback from some affected off-plan buyers to this effect in the last fortnight or so,” said Robin Teh, country manager at the property services firm Chesterton International. “These buyers had paid 50 or more of the value and as such there is nothing to prevent them from selling.
“But the concerned developer declined to issue a no-objection certificate for the deal to go ahead; we are trying to ascertain whether this applies to an individual developer or others are also doing it.”"
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