The Ministry of Heritage and Tourism published in this week’s issue of the Official Gazette the Regulation of the Rules and Systems of Real Estate in Jebel Sifah Resort.
This regulation supplements the Executive Regulation of the System of the Ownership of Real Estate in Integrated Tourism Complexes by adding new obligations to developers, buyers, and owners in Jebel Sifah Resort. Some of the new key obligation for developers under the new regulation include obligations to use an escrow account, appoint an independent audit office, and insure all units.
This new Jebel Sifah Resort Regulation enters into force tomorrow. You can read it in full in English on the link below: