Friday, April 25, 2014
Share |

Fresh amendments to real estate law likely soon

Dubai may shortly enforce amendments to its real estate law aimed at hastening procedures for settlement of real estate disputes between tenants and landlords and allow for an appeal within three days.


The Committee for settlement of rent disputes has presented a draft of amendments to government, aimed at reducing time to solve disputes and stimulate the market to be the region’s business and trade hub.


The committee drafted a fresh amendment to the law, which was presented to concerned authorities. This is likely to be implemented by the month-end, said Saeed Al Kindi, the Committee Chairman.


The new amendments have been prompted by the market developments that necessitate expediting procedures to settle disputes. The law allows the parties to appeal within three days of committee’s verdict to reach acceptable decisions within a short time span. The committee has already tackled about 4000 disputes, most of them involving failure by tenants to pay rentals. The committee would form four sub-panels within a week’s time to tackle rental dispute and save time, adding that they would handle 35 to 40 cases a day.


Mercy and justice is required with strict enforcement of the law. Satisfying all parties is difficult, but, the law is thought to help in the matter, said Kindi.


Posted on 12/9/2013

blog comments powered by Disqus

Recent Articles

Council approves new traffic rules in UAE

Dubai Airport Show 2014 to be unveiled in May

Dubai Metro Stations to be transformed into cultural & artistic hubs

Springs community residents hail new entertainment facilities

Dubai Construction sector to witness major recruitment drive

UAE likely to introduce major amendments to traffic rules

Second largest mall in the UAE to open this year

Dubai International airport to relocate flights to alternative airport from 1st May

WETEX 2014 to be unveiled in Dubai on 14th April

Is Dubai losing out tenants to northern emirates?

 



Top