To: All companies operating in the residential timeshare.
Subject: Important Terms for Timeshare Contracting.
Starting from today, the following terms must be adhered to, as they must be read and undersigned by the purchaser and company's authorized person. The purchaser and company must maintain a copy of the contract to be presented to RERA when requested.
Non-compliance with this circular is against licensing terms and regulations issued by RERA which will result in fines as per the Dubai Executive Council No 25 of 2009.
Your commitment and cooperation are much appreciated.
Deputy CEO
Date: Jumada II 6, 1435 AH
Corresponding to: 06/04/2014
Renting of Residential Units on time-sharing bases companiesImportant notes and conditions that must be acknowledged by the buyer and companies authorized person.
1. The timeshare project isn't an investment or fixed income project, but it is for a personal and long-term use. |