real estate Archives - Fichte & Co Legal

FICHTE WEBINAR: COVID-19 Impact on the UAE Real Estate Market

Fichte Legal — Wed, 15 Jul 2020 07:14:11 +0000

Free Live Webinar As the Coronavirus outbreak continues to affect the real estate market in the UAE, the quantum of the impact in this industry will depend on how long the economy takes to get back on track. The webinar focused on the COVID-19 impact on the real estate market, obstacles, opportunities, and the way …

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Developers’ Right to Terminate off Plan Sales to Defaulting Buyers. No Court Order Needed.

Dr. Laura Voda — Mon, 11 May 2020 09:07:00 +0000

In 2017, His Highness Sheikh Mohammed Bin Rashid Al Maktoum issued Law No. 19 of 2017, amending Article 11 of Law No. 13 of 2008 on the Interim Real Estate Register in the Emirate of Dubai. The provisions of Law 19 of 2017 are a matter of public policy, therefore any contractual agreement that developers …

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What Can a Buyer Do if Faced with a Cancelled Off-Plan Real Estate Project In Dubai?

Dr. Laura Voda — Wed, 06 May 2020 05:00:45 +0000

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Ruler of Dubai and Prime Minister of the UAE, issued decree N⁰ (21) of 2013 on 23rd July 2013 concerning the formation of a special judicial committee for the liquidation of canceled real estate projects in the Emirate of Dubai and the settlement of relevant rights (Committee …

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Force Majeure and the Coronavirus

Fichte Legal — Wed, 26 Feb 2020 02:26:17 +0000

Companies are doing their best and taking precautions to prevent the spread of the Cornovirus; some of the measures these companies are taking could invoke force majeure clauses or the “impossibility of performance” defence as a preventative measures , the main one being flight suspension, ban on foreign tourism and some operations being delayed. The …

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Everything You Need to Know about the New Joint Property Law

Dr. Laura Voda — Tue, 18 Feb 2020 09:36:15 +0000

Background and introduction Just recently, His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE issued Law No. (6) of 2019 pertaining to the Joint Ownership of Properties (Joint Ownership Law) in Dubai. This newly enacted law repeals Law No. (27) of 2007 concerning Jointly Owned Property in the …

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Will insurance cover damages by rain? UAE law firm clarifies

Fichte Legal — Tue, 14 Jan 2020 04:13:05 +0000

Residents have questions whether these damages are covered under the insurance as rains are caused by “intentional act” of cloud seeding. Damages to vehicles and properties caused by the ongoing record-breaking rain spell are generally covered under the UAE insurance policies unless it has been explicitly excluded in the agreement, legal experts have said. Sridhar …

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Property Disposition: Exemptions from Fines

Neelesh Pillai — Wed, 30 Oct 2019 03:00:24 +0000

Exemption from fines for non-registration of real estate dispositions and non-payment of the prescribed fees at the Dubai Land Department We have always seen changes made in the Dubai Real Estate Law which had attracted buyers and investors from all over the world to take interest in buying property in Dubai. The Dubai State Government …

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Everything You Need to Know about FIDIC Contract in the UAE

Fichte Legal — Mon, 27 May 2019 02:58:15 +0000

Introduction The International Federation of Consulting Engineers (FIDIC) is an international organization best known for developing standard contracts forms for the construction and engineering industry. Due to the rapid construction growth during the last 20 years and international cooperation, FIDIC contracts are commonly used on construction projects in UAE. However, peculiarities of legislation and special …

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Examining FIDIC Construction Contracts: Part 1 – The Dispute Adjudication Board

Fichte Legal — Wed, 31 Oct 2018 02:28:33 +0000

Muqawala contract or construction contract is in its general nature, governed by the general liability rules stipulated in the Federal Civil Transactions Law No. (5) of 1985 as amended by the law No. (1) of 1987. In particular, the specific articles regulating the relationship between the employer, the main contractor and subcontractors are mentioned in …

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8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property Laws

Fichte Legal — Mon, 27 Aug 2018 08:42:42 +0000

Purchasing off-plan property has become the new norm, with affordable prices and the increase in incentives being offered, purchasers are quick to jump on the bandwagon. The Dubai Law No. (8) of 2007 On the Matter of Escrow Accounts for Real Estate Development (“Escrow Law”) was issued for the purposes of safeguarding purchaser’s money after …

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