Dubai: Land Department Launches Real Estate Arbitration Centre
Type
E-journal
Date
5 Oct 2012
Jurisdiction
Dubai
Taxonomy
Arbitration, Regulatory Compliance
Copyright
LexisNexis
Analysis
Dubai's Land Department has launched a Dubai Real Estate Arbitration Centre. The Centre will work to resolve property disputes by internationally recognised real estate arbitrators, who have been accredited by regional and international arbitration centres.
A draft law to establish the centre has been sent from the Land Department to Dubai's Executive Committee for approval.
Alternative dispute experts have said the legislative framework needs to keep pace with legal developments. Some have argued this means the civil procure law needs to be replaced with a new arbitration law.
Experts have also said real estate sale and purchase contracts should include clauses which clearly state a dispute resolution procedure and specifically list mediation and arbitration as possible solutions before court action.
This story was first reported in Middle East Company News Wire, AME Info and Gulf News (United Arab Emirates).