The number of property buyers intentionally defaulting on their purchases is likely to fall sharply this year, the head of Union Properties told The National's Bradley Hope. That's because the new Law Number 9 of 2009, which introduces a sliding scale to determine how much money a property buyer who defaults on payments will lose, will make those making payments to properties that are nearly finished think twice before pulling out.
A number of UAE property developers are considering investing in the construction of six million low-cost homes in Pakistan as part of a government-backed plan to ease the housing shortage in the country, report The National's Sarmad Khan and Angela Giuffrida.
And The National's Nathalie Gillet reports that a group of 30 property buyers who say they have paid many thousands of dirhams to developers for their projects that are either months behind schedule or not even started are pressing the Ajman Real Estate Regulatory Agency (ARRA) to take action to protect investments.
Emirates Business 24/7 reports that 145 property cases have been resolved by Dubai's Property Court since it was set up last September, while Arabian Business leads the same story with the fact that 520 cases have been registered in 2009.
Emirate Business also reports that Nakheel has announced a "prompt payment scheme" for five of its projects, allowing investors to save up to 30 per cent. Projects include Jumeirah Island Mansions, Jumeirah Heights Clusters, Badrah Phase 1 and Phase 2, Marina Residences phases 7, 8, and 9, and Veneto.
COMPANY%20PROFILE
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
Generation Start-up: Awok company profile
Started: 2013
Founder: Ulugbek Yuldashev
Sector: e-commerce
Size: 600 plus
Stage: still in talks with VCs
Principal Investors: self-financed by founder
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
SPECS
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Most%20polluted%20cities%20in%20the%20Middle%20East
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World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
DSC Eagles 23 Dubai Hurricanes 36
Eagles
Tries: Bright, O’Driscoll
Cons: Carey 2
Pens: Carey 3
Hurricanes
Tries: Knight 2, Lewis, Finck, Powell, Perry
Cons: Powell 3
Women%E2%80%99s%20Asia%20Cup
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Fast%20X
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
Dengue%20fever%20symptoms
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MATCH INFO:
Second Test
Pakistan v Australia, Tuesday-Saturday, 10am daily at Zayed Cricket Stadium, Abu Dhabi
Entrance is free
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
Rating: Two out of five stars
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Match info:
Portugal 1
Ronaldo (4')
Morocco 0
Abu Dhabi Card
5pm: Maiden (PA) Dh 80,000 1,400m
National selection: AF Mohanak
5.30pm: Handicap (PA) Dh 90,000 1,400m
National selection: Jayide Al Boraq
6pm: Handicap (TB) Dh 100,000 1,400m
National selection: Rocket Power
6.30pm: Abu Dhabi Championship Listed (PA) Dh 180,000 1,600m
National selection: Ihtesham
7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 1,600m
National selection: Noof KB
7.30pm: Maiden (PA) Dh 80,000 2.200m
National selection: EL Faust