Assessment of Dubai Real Estate Trust Accounts Law and Issues of Business: Evidence from Ontario and Utah

Abstract

The Dubai real estate trust accounts law is intended to reduce the buyers ' uncertainty when their installment payments are paid in line with construction progress. Dubai is one of the Emirates of UAE. The analysis and findings suggests that the trust accounts law and producing certificate of construction progress tempt developers to delay the completion of the project and thereby buyers face a new level of uncertainty. The paper concludes that for restoring the efficiency of the trust account, the Dubai regulatory agency should either embed time scheduling in construction progress or release funds to developers by adopting the process and regulations of the Canadian Province of Ontario or the state of Utah in the USA.