Dubai’s Land Department is working on a new rent law and is awaiting approval from the legislative committee. The law is aimed at reducing landlord-tenant disputes and stabilise rental market volatility. It’s understood it will come into force in June. The Land Department is also looking at introducing Real Estate Investment Trusts regulations (REITs).
Dubai’s Land Department has announced new rent regulations are under consideration. The aim is to reduce landlord-tenant disputes and stabilise the Emirate’s rental market. No further details have been given but the draft is ready and will be sent to the Legislative Council soon. It follows the introduction of new measures to improve market transparency, including mandatory use of a unified rental lease form. Department officials are also working on introducing new rental security deposit and unit handover forms.
The Dubai International Financial Centre (DIFC) Courts have launched a consultation on adding a new Part 56 to the Court’s Rules to establish a specialist Technology and Construction Division. The consultation ends on 22 April 2017. Feedback should be provided to consultation@difccourts.ae and the full consultation can be found at:
http://difccourts.ae/draft-newpart-56-rules-difc-courts-introducing-technology-constructiondivision-opens-public-consultation-22-april-2017/
The current Rules can be found at::
http://www.lexismiddleeast.com/doc/355F646966635F62696E6465725F30315F30303031?highlight=Part+1.
Analysis of what the rules could mean can be found at:
http://www.lexismiddleeast.com/doc/2447191_2447192.