New law to regulate realty in Abu Dhabi |
|
Text Size 
A new draft law framed by the Abu Dhabi Department of Municipal Affairs will soon regulate the real estate market in the emirate, a top official of the department's property section told Emirates Business.
Dr Abdullah Ghareeb, Executive Director for Property Management at the department, said the law will be referred to the Abu Dhabi Executive Council by the end of the year.
It lays down regulations and guidelines for developers, contractors and brokers, as well as for off-plan sales, licensing of high-rise residential buildings and property registration.
There will also be provisions that seek to end harmful speculation in the real estate market in Abu Dhabi, Ghareeb said, adding that it will suggest the setting up of a central authority responsible for all registration, construction, licensing, sales and purchases.
The draft law is based on the experiences in the real estate sector of other emirates and countries and has been eight months in the making, he said.
The drafting process also included consultations with representatives of bodies concerned with real estate development from both government and private sectors.
Asked by Emirates Business about Abu Dhabi's need for specialised courts to hear cases in the real estate sector, Ghareeb said: "We have reservations about this idea. Besides, the emirate has recently set up economic courts that might look into real estate problems and disputes."
By Abdel Hai Mohamad
© Emirates Business 24/7 2008
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Emirates Telecommunications Corporation | UAE | Telecommunications Services |
| Emirates Aluminium Company | UAE | Metal Production |
| Abu Dhabi Investment Council | UAE | Investment Firms and Funds |
| Al Azizia Panda United Company | Saudi Arabia | General Retailers |
| Ras Girtas Power Company | Qatar | Electric Utilities |
| Bahrain Mumtalakat Holding Company | Bahrain | Investment Firms and Funds |
| KIA Motors Corporation Middle East and Africa | Region-wide | Transportation Products |
| Abu Dhabi Investment Company | UAE | Investment Banking |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| Ras Girtas Power Company - Ras Girtas IWPP | Qatar | Power and Water |
| IGD - Gasco - Habshan 5 Gas Processing Plant | UAE | Oil and Gas |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Qatar Foundation - Sidra Medical and Research Center | Qatar | Real Estate |
| Aramco/Dow Chemical - Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Abu Dhabi Ports Company - Khalifa Port and Industrial Zone (KPIZ) | UAE | Infrastructure |
| SATORP- Jubail Refinery and Petrochemical Complex - Conversion Unit and Sulphur Package (Part 2) | Saudi Arabia | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |