The Real Estate Regulatory Authority (RERA) today issued an edict, temporarily suspending the license granted to the Golden Gate project’s developing company, GG Developers SPC, for three months.
Based on the provisions of Law 27/2017 promulgating the real estate sector regulations, the decision, which takes immediate effect, was taken as a result of the violations committed by the developer.
The decision aims to preserve the unit buyers’ funds, and ensure the smooth progress of the Golden Gate project, RERA said.