A 35-article law includes all procedures concerning a mortgage in Dubai was issued by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The goal for issuing a mortgage law is to better regulate the emirate’s booming real estate sector.
According to Marwan Ahmed bin Ghalita, chief executive of Dubai’s Real Estate Regulatory Authority “the law is basically covering the mortgage procedures in Dubai”, this is an effort to protect the rights of lenders and borrowers and to improve transparency. The Mortgage law will come into effect after 60 days from its announcement.
The new law states that mortgage contracts must get registered with the “Land Department” of Dubai. The size of the loan, the repayment period and the value of the property must be specified. The law also states that the mortgages that are taken out on properties in Dubai can only be sold by registered financial institutions and also should be insured.
Full financial documents should be presented by the borrower and lender. “It gives more confidence to the lender and gives more security for banks” Marwan Ahmed bin Ghalita said. Dubai started allowing foreign investors to buy properties in Dubai on a freehold basis in 2002.
Since then the mortgage business grew rapidly. Back in July Standard Chartered warned that the prices of the still under construction real estate will be inflated due to speculators in the market betting on quick gains.
A new initiative is gaining support in Israel, when you read it you just laugh and feel sad for whoever came up with this supposedly INITIATIVE. Every time there is slight possibility that maybe, just maybe , there might be a new solution for the Palestinian/Israeli situation, the fear starts crawling into those Israeli’s in a huge way.
Even if they are sure 100% that those so-called summits, such as Annapolis summit, are just full of bullshit and just PR parties. Nothing good comes out of it for anybody anyway. But still every time someone comes up with a ridiculous solution, that he knows would never be implemented, just to disrupt whatever is supposedly being done to come up with some logical solution.
The latest genius that came up with this new initiative is Knesset member Benny Elon. His super clever plan is the following. The UN Refugee Camps are dismantled and the refugees are given rehabilitation packages and the option of moving to outside participating countries, where agencies would work to help with resettlement, employment and housing solutions.
Read more after the jump… really crazy plan…
Refugee’s who wish to stay in the West Bank are given the Jordanian nationality, and can stay in the territory “controlled by Israel” while the Jordanian Kingdom would be their home country.
No more Abbas administration, there would be no more Palestinian Authority and weapons will be collected from militias. He says billions of dollars is being splashed yearly on finding a solution for the Palestinian/Israeli conflict. So those billions would be spent to dismantle the camps and help the refugee’s get rehabilitation and move to other countries.
He is depending on a 2004 survey that states that about 50 percent of Palestinian society would not rule out the option of permanently moving to another country if they had the ability and means to relocate.
I would like to give Benny Elon some really bad news, there is no Palestinian on this EARTH who would leave their land for any kind of shiny offers. They will never leave their land for you. Don’t even dream about it. The kind of transfers that happened in the old days will never happen again. Whatever Israel do, shoot them, bomb them, kill them in any way, they will never leave their country, they will never leave their land, they will never give the chance to you to call PALESTINE “israel”. The days will pass, the years will pass, and Palestinians will stay Palestinians and Palestine will stay Palestine, you cant erase their identity, whatever and however you try.
A 35-article law includes all procedures concerning a mortgage in Dubai was issued by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The goal for issuing a mortgage law is to better regulate the emirate’s booming real estate sector.
A new initiative is gaining support in Israel, when you read it you just laugh and feel sad for whoever came up with this supposedly INITIATIVE. Every time there is slight possibility that maybe, just maybe , there might be a new solution for the Palestinian/Israeli situation, the fear starts crawling into those Israeli’s in a huge way.
I would like to give 