DIFC: Reinforces Common Law Foundations and Enhances Real Estate Regulations

UAE News developments

DIFC: Reinforces Common Law Foundations and Enhances Real Estate Regulations

The Dubai International Financial Centre (DIFC) has enacted significant amendments to DIFC Law No. 3/2004 on Application of Civil and Commercial Laws and DIFC Law No. 10/2018, DIFC Real Property Legislation.

Article 8A of DIFC Law No. 3/2004 establishes that DIFC Law is determined first by DIFC statutes and court judgments, supplemented by the common law principles and rules of equity from England and Wales, as well as other common law jurisdictions.

Article 8B of DIFC Law No. 3/2004 states that interpretation of DIFC statutes may be guided by principles developed in analogous laws in established common law jurisdictions and international jurisprudence for model laws adopted by DIFC.

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Hannah Faye Gutang