Dubai court orders buyer to pay Dhs7.52m of deposit to sellers after backing out of a real estate deal

The Dubai Real Estate Court has mandated a buyer to pay Dhs7.52 million to two sellers, representing 80 percent of the deposit, after the buyer withdrew from a real estate transaction. Additionally, the court ordered that interest be applied at a rate of 5 percent annually from the date of the claim until the payment is completed. The sellers initiated legal action in the Dubai Real Estate Court.

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