The judicial committee's announcement to oversee the liquidation of cancelled real estate projects comes across as a relief to investors in Dubai. However, only projects which have been officially cancelled will come under the committee's scanner. Experts are of the opinion that this move will benefit the stakeholders in the real estate market at large. The Land Department will now allot developers a grace period of 60 days to pay back the investors. On failure, they will be reviewed at the Dubai Courts for further action to be taken.