1. Intuit Management Consultancy
www.intuitconsultancy.com
New Property Laws in Dubai
The Dubai Land Department is in the process of issuing seven new legislations in the next two
years in order to regulate the real estate market in the emirate and to help protect the rights of
property investors, a move which has been welcomed by the emirate’s real estate and legal
professionals.
New laws will also cover special programme (Tayseer) and Tanmya real estate initiative, while
the laws will help facilitate the formation of a judicial committee to liquidate projects. Laws
regarding landlords associations will be amended.
Dubai real estate market in Dubai is very dynamic. Of the total real estate units in the emirate,
60 per cent is leased. The real estate legislations that are in place have helped the sector attract
foreign investment as well as face challenges effectively. The laws will only strengthen the
legislative structure of the real estate sector and increase its competitiveness and attract more
local and foreign investments.
The list of projects and proposals of laws under preparation aims to strengthen the legislative
structure of the real estate sector to maintain gains achieved by the private sector, increase
competitiveness and capacity to attract local and foreign investments. The rate of growth in the
value of real estate transactions are a strong indicator of recovery in the real estate market and
emphasized the attractiveness of the market, both for local and foreign investors.
The current demand for real estate in Dubai is based on a strong foundation. The current
increase in real estate prices is logical and predictable, especially because it comes after a
wave of declines, following the global financial crisis.
The department also plans to issue a special law for the Tanmya initiative, which aims to
restructure troubled real estate projects.