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  • 07 Feb 2019Dubai

    The Dubai Court of Cassation recently issued a decision in favour of our client in relation to their claim that an Option Agreement for the purchase of property could not be considered to be a substitute for a Sale and Purchase Agreement. Option Agreements have been used by certain developers, particularly when dealing with bulk buyers in the early phases of large development projects.

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  • 06 Feb 2019Dubai - Oman

    In November of last year, Oman Sultani Decree No 30/2018 relating to the Escrow Accounts for Real Estate Development Projects (the Escrow Law) was promulgated in a move to regulate real estate developers and to protect funds paid to developers by purchasers of off-plan properties. Until this new law was issued, real estate developers operating in the Sultanate were largely unregulated. The Escrow Law is essentially based on the equivalent legislation in Dubai, which has been in place for 10 years [Dubai Law No 8/2007].

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  • 31 Jan 2019United Arab Emirates

    Until recently, UAE law has not been particularly clear on the extent to which a valid security interest can be created, perfected and enforced over moveables, whether existing or future. The position has radically changed with FL_TITLE202016Federal Law No. 20 of 2016 regarding the Pledge of Moveables as Security for a Debt that came into effect on 15 March 2017 and the enactment of related secondary legislation. This change in law affects a variety of transactions, categories of moveables, security providers, beneficiaries and third parties, and attempts to cover numerous related creation, perfection and enforcement scenarios. This commentary touches upon some of the changes brought into the UAE legal landscape with this law and of the perceived core benefits, and pitfalls, of the new security regime established by it.

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  • 23 Jan 2019Lebanon

    The lease contract is the most commonly used contract in society. This contract plays a key role in economic and social life. In Lebanon, with the emergence of the Lebanese Code of Obligations and Contracts in 1932, the Lebanese legislator regulated the provisions of the lease leaving both parties to the contract with absolute freedom to compose the contract.

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  • 18 Dec 2018Bahrain

    Following the new RERA Law(Bahrain Law No 27/2017 Concerning the Promulgation of the Real Estate Sector Regulation Law), the Bahraini real estate market has become subjected to additional guidelines that are changing the sector as a whole. This includes regulating escrow accounts of development projects, which came in the form of Bahrain Decision No 3/2018 in relation to Escrow Accounts of Off-Plan Sale Projects (Escrow Account Resolution), which was issued by the Real Estate Regulatory Authority (RERA) and Bahrain Decision No 19/2018 on Regulating the Activity of the Escrow Account Agent of Real Estate Development Projects (Escrow Agent Resolution), which was issued by Central Bank of Bahrain (CBB).

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