A public-private route to reviving stalled developments

NM-Law-Blog-A public-private route to reviving stalled developments

There was quite a significant reaction to my last column regarding a structure that resembled something similar to what the US did with the RTC (Resolution Trust corporation) bailout of banks. Among the most critical responses included the “moral hazard” problem, where the government was stepping in and almost bailing out errant developers as well […]

Fast-tracking revival of stalled real estate projects

NM-Law-Blog-Fast-tracking revival of stalled real estate projects

With the Schon episode, the Dubai Lands Department has boldly – and effectively – stated its intention of not tolerating errant developers. This evolution of regulation is in line with the city’s vision of becoming proactive in every sector of the economy to protect the individual with respect to his economic rights. Dubai is also […]

Steps taken to cool down Dubai’s off-plan market

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Dubai’s real estate authorities are likely to step in to cool down the off-plan residential sales rush, which, if left unchecked, could have created the risk of too much supply coming in at the same time. Developers with upcoming off-plan launches are now expected to finish 50 per cent construction before they can start selling. […]

Make sure the Oqood certificates are issued on time

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In recent months, it has been highlighted that for a number of new launches by private sector developers, the “Oqood” contract has not been registered. This has served in many cases as a marketing tool in order to facilitate speculation and entice the customer. This issue needs to be highlighted both for the investor/end user […]

Making honest brokers out of them all

NM-LAW-Making-honest-brokers-out-of-them-all

For any market to be dynamic and healthy, the regulation of the intermediary is essential. It is the intermediary that on the one hand inspires confidence, and on the other instils doubt and reservation in the mind of the investor, if the code of conduct is not properly regulated. While there is always a role […]

Dubai’s push for transparent real estate arbitration

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Given the large role that real estate plays in the economy, it is of little surprise that legislation in this sector has been among the most proactive in the world, with many other countries following suit in terms of adopting the principles that Dubai has put into place for the protection of both investors and […]

Dubai’s unified rental contract ticks the right boxes

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The issue of rents remains one of the more sensitive areas of real estate regulation in Dubai and the UAE, particularly in the residential space. And given the fact that the city is still predominantly a tenanted one. Over the years, the passage of laws have made the relationship between landlords and tenants increasingly transparent, […]

Dubai realty regulations now go deep enough

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The UAE in general and Dubai in particular is characterised by the quality and grandeur of its properties, with real estate sector one of the most important tributaries of the national economy. Therefore, it is significant to issue laws that cope with the real estate and urban development needs of the state. The UAE has […]