The recent changes in the legal landscape in UAE are quite promising for the investors, and this new law (Dubai Decree No. 23 of 2022) further bolstered the same in the real estate sector. In this landmark move, the government of Dubai issued a comprehensive law governing commercial law of government land. In other words, this law will control the Musataha rights to ensure maximum returns for investors.
In this news article, we are going to discuss this new law with the help of our best property lawyers of Dubai.
What does this new law offer?
In the opinion of our top real estate lawyers of UAE, the new decree shall be applicable to all the industrial and commercial land owned by the government in the Emirate of Dubai. It is pertinent to note that this decree will cover both the partially and wholly owned properties. Our top lawyers have highlighted that this decree will grant some protective rights in addition to the earlier rights spelled out in the UAE Civil Code.
Further, this new law has some other key provisions, which are summarized below-
- The competent authority for the purpose of this decree is Dubai Land Department (DLD). It is entrusted with numerous rights and responsibilities including the power to issue standardized rules and regulations for the optimum use of government lands;
- DLD shall be nominated supervisory authority for any constructions on the said land;
- DLD will coordinate with Dubai Municipality to conduct inspections and ensure compliance with the Musataha rights;
- Further, DLD is granted adjudicatory powers as it is competent to consider grievances lawsuit between any parties to the Musataha contracts.
In-short
Undoubtedly, this new law is a welcome step for the Dubai real estate market as it provides a clear and comprehensive framework for commercial use of government lands while benefiting the investors and other relevant stakeholders. Before making investment in the government lands, it is extremely important for the parties to consult a best property lawyer of Dubai and have proper documentation and agreement to avoid future disturbances.
BSB legal is a specialized property law firm of Dubai. Our best lawyers will assist you in drafting agreements, obtaining regulatory approvals, and doing other advisory work pertaining to your investment. To know more information, kindly contact one of our best employment lawyers in UAE. You can email us at info@bsb.legal or call +971 5 016 05046.