The UAE approves a new law regulating real estate rental operations

In Sharjah, the United Arab Emirates has passed a new draft law that regulates real estate leasing.

The UAE approves a new law regulating real estate rental operations.

Real estate rental operations are now subject to a new law that the UAE has approved.

For the purpose of regulating the trade of property, including the purchasing and selling of real estate, as well as other real rights, robust laws and legislation were developed.

The Sharjah Consultative Council (SCC) has given its approval to a draft law that pertains to real estate leasing in Sharjah and is scheduled to take effect by the year 2024. Following the introduction of a number of revisions to the draft law during the sixth meeting of the first regular session of the eleventh legislative term, approval was granted.

A speech was delivered by counselor Dr. Mansour Mohammed bin Nassar, who is the Head of the Legal Department of the Government of Sharjah. In his address, he lauded the role that the Sharjah Court of Criminal Courts played in finishing the legislative cycle of draft laws. He emphasized the significance of the current draft law since it is a work system that contributes to the benefits of Sharjah and its eagerness to control the relationship between landlord and renter in accordance with the rules that are currently in effect in the city of Sharjah.

According to Al Suwaidi, the current wording of the draft law touches on the living circumstances of society and brings together all important parties in an organized law that maintains pace with advancements and demand for the real estate industry in the Emirate of Sharjah. Al-Suwaidi made this observation.

The new real estate rental regulation law in the Emirates.

The newly enacted law in the Emirates regulates the rental of real estate.

The Chairman of the SCC, Dr. Abdullah Belhaif Al Nuaimi, presided over the meeting as its chairperson. The Council discussed the draft law on leasing real estate and reviewed the report received by the Council's Legislative and Legal Affairs, Appeals, Suggestions, and Complaints Committee in the presence of Counselor Dr. Mansour Mohammed bin Nassar, Head of the Legal Department of the Government of Sharjah; Issa bin Hanzal, Director of the Legal Department of the Government of Sharjah; and from Sharjah Municipality, Khalid Falah Al Suwaidi, Director of Customer Service; Abdullah Ibrahim Shuhail, Director of the Rental Regulation Department; and Muhammad Ali Al Ridwan, Head of the Judgments Implementation Department.

In their interventions, the members provided a variety of comments on the articles of the draft law, and the representatives of the government answered to the inquiries by clarifying aspects of the legal interpretation of the articles of the draft law as well as aspects of the work that is involved in putting the law into effect.

As part of its fifth plenary session, the Council gave its approval to a draft law that pertains to real estate leasing in the Emirate of Sharjah for the year 2024. This draft law is the second bill that the Council will examine at the commencement of its work for the eleventh legislative term. At the conclusion of the meeting, Ahmed Saeed Al-Jarwan, the Secretary-General of the Council, made the announcement that the next meeting will be devoted to discussing the recommendations that the Council has made concerning the strategy of the Sharjah Tourism and Commerce Development Authority.

Read also: Dubai Sets New Financial Regulations Amidst Taxation on Foreign Banks

Follow Us on Follow Akhbrna News at Google News
Join Telegram channel