Real estate amendment: Dubai property developers will now need a project to reach 50% completion before they can begin off-plan sales. This is an amendment from the previous 20% threshold after a surge in off-plan sales last year. Developers will also need to pay off all the costs related to the land as before. CBRE said in a report that off-plan sales accounted for more than 65% of total transactions in 2017, increasing 54% by number and 44% in total value on 2016. Some larger developers had expressed concerns that the attractive payment plans on offer for some projects were leading to a rise in speculative buying. The terms of these plans in some cases included paying only 30% of the value of a property in initial instalments and then up to 70% on handover or the years after completion.