RERA imposes some of its heaviest administrative penalties on developers who offer units in fraudulent real property projects for sale. A developer found committing this violation faces a fine of AED 500,000. This same fine applies to other serious…
RERA imposes some of its heaviest administrative penalties on developers who offer units in fraudulent real property projects for sale. A developer found committing this violation faces a fine of AED 500,000. This same fine applies to other serious financial crimes, such as embezzling or misappropriating cash payments intended for constructing real property projects. These high fines serve as a critical deterrent to protect the integrity of the real estate market and the safety of investors.
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