OFF-PLAN PROPERTY SALES: A COMPARISON STUDY OF VIETNAM’S AND DUBAI (UAE)’S LEGAL FRAMEWORK

Quyen Hong Do, Thuy Thi Minh Phung, Thao Thi Phuong Phung, Nguyet Thi Tran

Abstract


Off-plan property sales offer various attractive forms of property transactions, which have grown rapidly in popularity worldwide. In this context, in Dubai, the second largest emirate of the United Arab Emirates (UAE), and Vietnam, the off-plan property market has also been developing and attracting not only local investors but foreigners all around the world. However, due to its nature, which is available for purchase before it has been constructed, off-plan property sales lead to many potential risks involved to both sellers and buyers. Therefore, to protect the interests of the parties as well as stabilize the real estate market, it is necessary for each country or region to develop a legal framework governing this transaction. Within the scope of the article, the author focuses on analyzing regulations on off-plan property sales in Vietnam and the Emirate of Dubai governing requirements to engage in off-plan property sales, rights and obligations of the developer and buyer, and payment in off-plan property sales; comparing and contrasting those of these two legal systems to show similarities and differences, thereby suggesting some recommendations for Vietnam in improving the legal framework for off-plan property sales.

 

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Keywords


off-plan property, off-plan property sales, Vietnam, Dubai, legal framework

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DOI: http://dx.doi.org/10.46827/ejsss.v10i6.1929

Copyright (c) 2025 Quyen Hong Do, Thuy Thi Minh Phung, Thao Thi Phuong Phung, Nguyet Thi Tran

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