The Abu Dhabi Global Market (ADGM) has published a Consultation Paper seeking public input on proposed comprehensive reforms to its real property regulatory framework.

The revamp aims to address evolving market needs, align with industry developments, and position ADGM’s real estate regulations as best-in-class to support sector growth.

Key areas include streamlining processes, introducing new investment vehicles, and strengthening investor protection.

The consultation paper has outlined amendments to Abu Dhabi Administrative Decision No. 245/2015, focusing on enhancing protections for tenants in short-term residential leases.

Additionally, ADGM plans to introduce a new framework for the registration of off-plan development projects, off-plan sales, and Project Accounts, providing greater transparency and oversight in this segment of the real estate market.

The proposed reforms also include the introduction of a framework for registering off-plan and real property professionals, such as brokers, valuers, and property managers, who provide services within ADGM’s jurisdiction.

This move aims to ensure compliance to industry standards and safeguard the interests of all stakeholders involved in real estate transactions.

Stakeholders, including industry professionals, investors, and members of the public, are encouraged to participate in the consultation process by submitting their feedback and suggestions.

This collaborative approach ensures that the final regulations reflect the diverse perspectives and requirements of the real estate market.

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