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FINANCIAL NEWS
Dubai developers charge illegal registration fees: Law firm
01 Jun 2011
(MENAFN) A partner in Dubai-based law firm Hadef and Partners, Michael Lunjevich, stated that developers in the emirate charge customers illegal registration fees in order to increase their income, reported Arabian Business.
Lunjevich also said that Dubai Land Department (DLD) was the only firm legally allowed to charge fees for registering properties.
The law firm’s member added that some developers charge around USD1,361 as registration fees and around USD273 for as handling fees.
It is worth noting that the illegal fees threaten to harm Dubai’s slow real estate market as they may drive prices further down as well as discourage potential homeowners.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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