The Dubai International Financial Centre (DIFC) has proposed some amendments to the real estate ownership laws and regulations within its jurisdiction. The purpose of these changes is to enhance clarity and flexibility in the existing legal framework.
According to Jack Feser, Chief Executive Officer for Legal Affairs at the DIFC Authority: “We are pleased to introduce a consultation paper regarding proposed changes to the real estate law and regulations in the DIFC. The aim of these modifications is to ensure that our legal framework remains updated to meet the evolving needs of the centre’s community.”
The proposed amendments would introduce a ten-year liability for contractors concerning defects in new buildings, aligning with Article 880 of the UAE Civil Transactions Law. Furthermore, it would empower the real estate registrar to waive certain provisions of the property law in situations where strict enforcement may lead to an unfair or unjust outcome.
Other suggested changes include extending the lease registration period from 30 to 45 days, increasing the timeframe for registering off-plan sales and paying freehold transfer fees from 30 to 60 days, implementing penalties for failing to register lease agreements, and removing fees associated with requests to halt legal proceedings.