New Abu Dhabi Real Estate Law

Analysis

The long-awaited real estate law aimed at regulating the real estate industry in the Emirate of Abu Dhabi has been released amid much enthusiasm with industry participants hoping it will give impetus to the real estate industry by providing additional clarity and legal certainty.

The enactment of the law represents a watershed in the Abu Dhabi real estate industry, particularly in the ‘Investment Areas' where the absence of a real estate law has been keenly felt.

With the enactment of Abu Dhabi Law No. 3/2015 Concerning the Regulation of the Real Estate Sector in the Emirate of Abu Dhabi by the President of the UAE and Ruler of Abu Dhabi (the Real Estate Law), it seems an appropriate time to consider the likely impact on this law and the steps that developers and other industry participants will need to take to comply with this law and in particular the laws regulating multiply-owned developments (the Strata Law).

Key features of the new Real Estate Law

The new Real Estate Law introduces a number of key new features to the Abu Dhabi real estate industry, including: