The Dubai Marina. ARCHIVE

A Dubai court has ruled against a European woman in a property dispute, ordering her to pay Dh300,000 in compensation to a real estate development company after failing to honor the terms of a sales and purchase agreement. The case stemmed from a contract signed in March 2022 for a residential unit in Dubai Marina worth Dh4.3 million. The agreement required the buyer to pay in eight installments, with the final payment due in February 2024. However, she defaulted after making partial payments totaling Dh1.03 million. According to court records, the company had fulfilled its contractual obligations by registering the property with the Department of Land and Property. The buyer, however, refused to complete the remaining payments, leading the company to seek legal action. The court ruled in favor of the developer, ordering the cancellation of the property registration in the woman’s name and reinstating it under the company. She was also instructed to pay Dh300,000 in damages along with 5 percent interest from the date of the final ruling. Real estate legal experts emphasize the importance of buyers adhering to payment schedules in property transactions. “Failing to meet contractual obligations can result in severe financial and legal consequences, including loss of the property and hefty penalties,” said a Dubai-based property lawyer. Dubai’s real estate sector remains one of the most regulated in the region, with laws designed to protect both buyers and developers. The ruling reinforces the government’s commitment to ensuring compliance with property agreements. Experts advise investors and buyers to carefully review contract terms and ensure they can meet all financial commitments before entering into real estate transactions. “Due diligence is crucial before signing any agreement. Buyers must be aware of their financial responsibilities to avoid legal disputes,” the lawyer added. ICA/Expat Media
For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page