Overview of the real property laws of Dubai, Dubai Real Times

    29 May 2009

    Most observers would agree that Dubai has experienced phenomenal growth in its real estate industry, especially during the last five years. Everywhere one looks, the evidence of this growth can be seen in the amazing display of glittering hotels such as the Burj Al Arab, office buildings such as the Burj Dubai, which will be the tallest building in the world when completed, and shopping centres such as Mall of the Emirates with its indoor ski slope; in the creation of man-made islands such as the World Islands and Palm Jumeirah; in the development of free zones, such as the Dubai International Financial Centre, where companies can be 100 per cent owned by non-UAE nationals; and the list goes on.

    Especially exciting to lawyers who have chosen to practice in Dubai is the constantly developing legal and regulatory framework that is necessary to provide the legal protection and clarity that property ownership and investment require in order for the Dubai property industry to be successful. In Dubai much of this framework in the real property area has only been in place  ince 2006. This article provides a brief overview of the major laws of this legal framework, World Islands, Palm Jumeirah, among others. Dubai Law No. (21) of 2006 sets forth the amended registration fees and provides that the purchaser shall pay a fee equal to 1 per cent of the sales price and the seller 1 per cent of the same.