Exclusive interview with Mr Maalouli, Managing Director of ProConsult Advocates & Legal Consultants | Xtra Dubai Magazine

  We believe in putting ourselves in our clients’ shoes. Our services are personalized just the way we’d expect it from someone. We keep improving our standard of service and raising our benchmark. We don’t believe in complacency and therefore we strive continuously to be more robust than our peers. We believe in ourselves and Read More …

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Dubai Government Introduces New Law to Regulate Off-Plan Sales

Dubai Government Introduces New Law to Regulate Off-Plan Sales 28/11/2008 The Law Regulating the Interim Real Estate Register in the Emirate of Dubai recently came into effect. The law aims to boost investor confidence and protection within the Dubai real estate market by making pre-registration with the Land Department mandatory for all off-plan sales contracts Read More …

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Streamlining the Local Real Estate Market

Streamlining the Local Real Estate Market 19/09/2008 The Dubai government is driven towards ensuring the sustainability and continuing growth of the real estate market. The Decree on Rentals in the Emirate of Dubai and the Decree Appointing a Special Judicial Committee on Tenancy Dispute Resolution represent yet another move towards streamlining the local real estate Read More …

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New Strata Law Comes into Effect

New Strata Law Comes into Effect 20/06/2008 In April 2008, three months after it was enacted by the government of Dubai, Law 27/2007 on Ownership of Jointly Owned Properties in the Emirate of Dubai (the Strata Law) came into effect. The new Strata Law represents yet another landmark move in the government?s drive towards streamlining Read More …

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Implications of the Dubai Property Law

Implications of the Dubai Property Law 18/01/2008 The government of Dubai recently issued a long-awaited property law legalizing foreign ownership of properties in pre-designated areas in the emirate. The law reaffirms a landmark change of policy and reflects the drive of the Dubai government towards the liberalization of its land ownership policies. Read the Full Read More …

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Dubai Real Estate Regulatory Agency

Dubai Real Estate Regulatory Agency 26/10/2007 The Dubai Land Department is undergoing a major restructuring process. The government has established the Real Estate Regulatory Agency, a new regulatory body affiliated to the department. The agency will mainly oversee the escrow accounts which were introduced by Law 8/2007 to safeguard buyers’ payments in special accounts. Read Read More …

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Inheritance Laws and Real Estate Ownership

Inheritance Laws and Real Estate Ownership 10/04/2008 Pursuant to Article 17 of the UAE Federal Civil Transactions Law and in accordance with the UAE Civil Code, the law of nationality of the decedent is applied to inheritance issues. However, Article 27 of the Civil Transactions Law clearly stipulates that the law of nationality of the Read More …

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Liquidation of Limited Liability Companies (April 2006)

Liquidation of Limited Liability Companies (April 2006) The current status of the law in respect of dissolution and liquidation of limited liability companies is set forth below: The dissolution of the company must be communicated to the public by its registration in the Commercial Register, and its publication in two local daily Arabic language newspapers. Read More …

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Hedge Funds (April 2006)

Hedge Funds (April 2006) The term ?hedge fund? dates from the early 1950s. Initially, it described collective investment vehicles, often organized as private partnerships, that specialized in combining two investment techniques, short sales (borrowing a security and selling it in the hope of being able to repurchase it more cheaply before repaying the lender) and Read More …

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Public Companies … How to bring a Strategic Investor on board (April 2006)

Public Companies … How to bring a Strategic Investor on board (April 2006) Bringing a strategic investor on board of a public joint stock company means in legal terms allowing such strategic investor to inject funds as tier 1 capital, by way of subscribing to a capital raise and becoming a shareholder in the public Read More …

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New Dubai Property Law a Key Cornerstone I (April 2006)

New Dubai Property Law a Key Cornerstone I (April 2006) It was Ralph Waldo Emerson who said that ?if a man owns land, the land owns him?. Next to human resources, land is every nation?s most valuable asset. By land, we mean not just the surface, but also the natural resources that grow on it Read More …

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New Dubai Property Law a Key Cornerstone II (April 2006)

New Dubai Property Law a Key Cornerstone II (April 2006) We still believe that a UAE Federal Property Law is essential to set a unified model and guidelines for the emirates to follow in enacting their own local real estate legislation. We believe that certain matters of ownership and enforcement of real estate rights should Read More …

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Challenges Facing the Real Estate Market (January 2006)

Challenges Facing the Real Estate Market (January 2006) Dubai?s economic boom is still confounding the critics. In fact, the Department of Economic Development (DED) in Dubai reported a 16% growth in the emirate?s economy. At this rate Dubai is one of the fastest growing economies in the world. The DED attributed the current growth to Read More …

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Timeshare in the UAE (September 2005)

Timeshare in the UAE (September 2005) In the UAE, there are no laws regulating time-sharing ownership schemes. The advantage to this is that time-sharing schemes are deregulated and hence flexible. The disadvantage is that you are working in a vacuum. Dubai’s property market is booming as world-class projects are being launched by innovative property developers. Read More …

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Real Estate Development and Financial Markets (August 2005)

Real Estate Development and Financial Markets (August 2005) The UAE is in the midst of a construction boom. This has not only helped the performance of cement companies on the local financial markets, but activity has spilled over into real estate sector stocks. The UAE stock markets, mainly Dubai Financial Market, witnessed heightening trends in Read More …

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Arbitration from a UAE Legal Perspective (June 2005)

Arbitration from a UAE Legal Perspective (June 2005) Dubai’s property and construction market is booming as world-class projects are being launched by innovative property developers with the help or association of international companies and operators. The number of such construction projects has dramatically increased in the UAE, and Dubai in particular, which has inevitably given Read More …

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Real Estate Policies in the UAE (June 2005)

Real Estate Policies in the UAE (June 2005) Although real estate ownership is governed by and falls under the jurisdiction of federal legislature pursuant to Article (122) of the UAE Constitution, however, in the void of Federal Laws in this regard, different local policies apply in each emirate. In fact there is no specific Federal Read More …

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Arbitration in Construction Contracts (June 2005)

Arbitration in Construction Contracts (June 2005) Dubai’s property and construction market is booming as world-class projects are being launched by innovative property developers with the help or association of international companies and operators. The number of such construction projects has dramatically increased in the UAE, and Dubai in particular, which has inevitably given rise to Read More …

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Effects of Regulatory Environment on the Real Estate Market (May 2005)

Effects of Regulatory Environment on the Real Estate Market (May 2005) Institutions are the “rules of the game” of a society. A modern market-based economy depends on various bodies of laws and institutions. Regulation is one of many instruments for public intervention in real estate and other urban markets. In fact, one of the major Read More …

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