Dubai Land Department fines three developers AED 1.5 million for not complying with real estate escrow account regulations – UAE

The Dubai Land Department has fined three developers a total of AED 1.5 million for failing to comply with regulations regarding real estate escrow accounts in the UAE. The developers were found to have violated the rules by not properly maintaining and utilizing the escrow accounts for their projects. This action highlights the government’s commitment to ensuring transparency and accountability in the real estate sector.

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