Dubai Land Department fines three developers AED 1.5 million for marketing unregistered off-plan projects, violating Real Estate Development Escrow Accounts law.

Dubai Land Department (DLD) fined three developers AED 1.5 million for marketing unregistered off-plan projects, violating the Real Estate Development Escrow Accounts law. The developers were each fined AED 500,000 for failing to complete registration procedures. DLD's Real Estate Control Department monitors the market and urges companies to adhere to regulations, protecting investor rights through escrow accounts. Investors are advised to verify project licensing and escrow account registration through the Dubai REST application.