Request for Real Estate Project Cancellation
Request for Real Estate Project Cancellation

Description

This service enables real estate development companies to apply to cancel the registration of a real estate project based on the developer's request.


Service Form

1- Requirements form for project cancellation at the request of the developer
2- Undertaking A
3- Undertaking B
4- Announcement form
5- A contact person's data update form


Required Documents

1- Submitting a letter requesting cancellation stating the reasons for the cancellation
Fill out the project cancellation requirements form at the request of the developer
2- Fill out an undertaking form (A) not to sell any off-plan units in the project according to the undertaking form approved by RERA, or undertaking (B) that there are investors in the project.
3- Fill out an advertisement form and for the developer to advertise in a local official newspaper in both languages (Arabic and foreign) for a period of three days and provide the administration with the original copies of the advertisement
4- A recent financial report from a technical auditor accredited by RERA
5- Contact Person Information Update Form
6- The company incorporation contract stamped and signed


Service Terms

Not Applicable


Service Fees

Free Service


Service Procedures

Step 1: A formal request must be submitted with a request to cancel a project at the request of the developer
Step 2: Provide the developer with requirements for canceling a project based on the developer's request according to the form
Step 3: Submit a project cancellation request in the TAS Developers Self-Registration System after 15 days have passed from the third day of the announcement
Step 4: Update project data in the list of (canceled projects at the request of the developer) in the shared file
Step 5: Review and audit the cancellation requirements of the TAS Developer Self-Registration System
Step 6: Accept or reject the application if the cancellation requirements are not met
Step 7: When the project cancellation request is accepted, the request will be transferred to the bank via the online system
Step 8: After completing the bank’s procedure and closing the escrow account, the date of issuance of a project cancellation certificate in the list will be updated again
Step 9: A project cancellation certificate is printed through the online system www.oqood.ae



Payment Method

Not Applicable



Service Channels

Oqood Portal- Real Estate Developers Portal



Issued Documents

Certificate to cancel an approved real estate project (electronic)



Service Time

Developers Registration: 30 minutes
Survey: 7 days