UAE’s Emirate of Umm Al Quwain Introduces New Real Estate Laws to Drive Growth

In a significant move to boost its real estate sector and ensure sustainable urban development, the Emirate of Umm Al Quwain in the United Arab Emirates (UAE) has recently enacted a series of laws aimed at regulating and enhancing various aspects of the real estate industry. These laws, issued by Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Quwain, are designed to support the development and implementation of plans to drive growth in the sector while safeguarding the interests of investors, property companies, and developers.

Law No 2 of 2023: Interim Real Estate Register and Property Registration

This law focuses on the establishment of the Interim Real Estate Register of Umm Al Quwain and the regulation of property registration activities within the emirate. It aims to streamline and modernize the property registration process, making it more efficient and transparent.

Law No 3 of 2023: Regulation of Property Development and Pricing

Law No 3 of 2023 is dedicated to regulating property development activities within Umm Al Quwain. It addresses the pricing of all projects and introduces property escrow accounts, with a strong emphasis on protecting the rights of investors, property companies, and developers. This law ensures that property development in the emirate adheres to strict regulations.

Law No 4 of 2023: Amendments to Real Estate Escrow Accounts

This law introduces guidelines to better regulate real estate sales transactions and ensure compliance from all parties involved. It builds upon the foundation set by Law No 3 of 2007 on real estate escrow accounts in Umm Al Quwain, enhancing the oversight of real estate transactions.

Law No 5 of 2023: Regulation of Mortgage Registration Activities

In line with regulations issued by the Central Bank of the UAE, Law No 5 of 2023 addresses the regulation of mortgage registration activities through the Umm Al Quwain Municipality Department. It also deals with the settlement of issues and violations related to unregistered mortgages, ensuring a secure environment for property buyers and lenders.

Law No 6 of 2023: Investor Protection and Project Completion

This law is aimed at safeguarding the rights of investors in cases of project delays or obstacles. It encourages the completion of development projects whenever possible and establishes a special committee to address issues related to canceled and incomplete projects. This provision offers reassurance to investors and promotes project completion.

Law No 7 of 2023: Amendments to Brokerage Activities

Lastly, Law No 7 of 2023 introduces legislation and guidelines to regulate all brokerage activities within the emirate. It promotes transparency, fairness, and professionalism in brokerage services, ensuring that real estate transactions are conducted in accordance with the highest standards.

These newly enacted laws demonstrate the Emirate of Umm Al Quwain’s commitment to fostering a thriving real estate sector while prioritizing the protection of stakeholders’ rights and interests. By implementing these regulations, Umm Al Quwain is well-positioned to attract investors and promote sustainable urban development, further contributing to the growth and prosperity of the UAE’s real estate industry.




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