UAE capital city to introduce real estate laws similar to Dubai

The real estate  laws being considered by Abu Dhabi would cover commercial and residential property

UAE capital city is sketching plans to bring real estate laws akin to Dubai in a radical shake-up of the Abu Dhabi property market, leading UAE website reported. Dubai-based law firm Al Tamini is talking with the Department for Municipal Affairs in Abu Dhabi, which handles real estate legislation for the emirate, over proposals to introduce strata, broker, and escrow laws that would improve regulation and give investors greater confidence when investing in the region.

Walter Robinson, an associate lawyer at Al Tamini's Abu Dhabi office said: "This would give investors comfort to know they are investing in a property with a real title deed and that the system of ownership is recognized in line with best international practices."

In 2002, Dubai introduced freehold ownership of property in selected areas, sparking its six-year real estate boom. Central to the proposed introduction of the laws would be a change in the freehold ownership of land. Robinson said introduction of freehold ownership rights was a necessary and fundamental change to property laws in Abu Dhabi. An escrow law protects investors and ensures developers actually deliver projects. The legislation being considered by Abu Dhabi would cover commercial and residential property.