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Monday, September 27, 2021

Some property buyers in Dubai are finding that even after 10 years, they are still not the actual “owners”

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Some property buyers in Dubai are tracking down that even following 10 years and a greater amount of possessing their units, they are as yet not the genuine “owners” since they never had the ‘Oqood’ declarations gave under their names.

They came to know about their appalling conditions solely after auction sees were given on a few apartments at Universal Apartments – a low-ascent worked by Sheffield Real Estate in International City. This is a similar designer behind the Dh1 billion or more Marina 101 at Dubai Marina, a skyscraper project that has been being worked on now and again for a very long time.

“Since Sheffield owes cash to banks, the banks have put the designer’s property resources available to be purchased,” said the proprietor of one of the apartments. “They attempted to do as such with the adjusted lodging condo floors on Marina 101, and they are doing likewise with our apartments in International City. Despite the fact that we had purchased and cleared every one of the payments identified with the purchasing of the property.”

That the bank could do as such is on the grounds that the apartments at the International City building were never enlisted in the purchaser’s name with the Dubai Land Department/RERA. This implies that, actually, these apartments are still important for the Sheffield property portfolio and not with any individual proprietor. (According to Dubai land laws, all offplan buys should be enlisted and Oqood declarations gave.)

“It was toward the start of June that a representative of Sheffield Management reached me to tell us of the auction,” said the proprietor. “We discovered that our condo was one of 12 in the structure that Sheffield didn’t move to buyers’ names, however rather stay enlisted under Sheffield Real Estate.

“We have been going around aimlessly since the finish of June. We were at first advised to visit the Al Adheed workplaces to connect with an adjudicator, however we can’t protest the auction. A different case was documented by us, yet we were advised to go to the Land Department to get the title deed.

“The Land Department was exceptionally useful and really taken a look at our reports, but since there is a square on the structure from the court, they’re not able to make any transfers or follow up.”

 

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