UAE plans unified property law

The United Arab Emirates is working to frame a national property law that will apply in all seven emirates, a senior official has said.

UAE plans unified property law

The United Arab Emiratesis working to frame a national property law that will apply in all sevenemirates, a senior official has said.

EmiratesToday, aEnglish newspaper, reported on Thursday that the land ministries in eachemirate were working on regulations to unify UAE property law.

 

 

"Beforereleasing any law, a copy is sent to all emirates. This is because we need tohave similar regulations," the newspaper quoted Mohammed Sultan Thani,director of development and marketing administration, as saying.

 

 

Growthboom

The UAE,particularly the Gulf Arab trade hub of Dubai,has seen rapid development that has driven up property prices in recent years,but property regulations still vary from emirate to emirate.

EmiratesToday said land prices were expected to continue their upward trend.

"Landprices in Dubaishot up by 10 to 20 per cent in 2006. We expect the same trend to continue thisyear," the paper quoted Aftab Hemani, managing director of CobaltConstruction and Development Group, as saying. 

By theyear 2010, Dubaipopulation is projected to be 1.845 million, an increase of 0.432 millionbetween 2006 and 2010. This gives an annual increase of 0.108 million in fouryears.

The inflowof population has been encouraged by liberalisation, simplification ofimmigration and laws governing residence, labour, real estate,tenancy, business and commerce.

 

Güncelleme Tarihi: 20 Eylül 2018, 18:16
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