DLD Seizes Properties and Land Plots Registered to Schon Properties

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The Dubai Land Department (DLD) has issued a decision to seize the properties and land plots registered to Schon Properties and its funds deposited in Escrow account until the Dubai Public Prosecution and Dubai Courts complete legal procedures for the recovery of all investor rights and securing the rights of other parties.

The step is aimed at protecting the rights of investors in light of Schon Properties’ actions of exploiting investors by refraining from depositing their money in Escrow (guarantee) account.