Considerable efforts have been made by UAE authorities in recent years to regulate the local real estate market, particularly in Dubai. The legal framework in Dubai has developed through the enactment of a series of laws and regulations and, together with the establishment of a regulatory authority, has given clarity and certainty to a number of areas.
These areas include the foreign ownership of real property, the registration and transfer of off-plan and completed property and the mandatory requirements for property developments such as a project escrow account and, more recently, in relation to the sub-division and strata arrangements of property and its common areas in the form of the Jointly-Owned Property Directions of Dubai.
BSA LLP has extensive experience in all areas of real estate law, transactions, investment and development in the UAE and works closely with clients to identify and develop optimum solutions to clients’ real estate legal needs.
BSA LLP's areas of real estate related legal expertise include:
Conveyancing – the acquisition and disposal of all types of property including all due diligence work
Leasing arrangements (short and long term for residential, commercial and retail) and all related landlord and tenant work
Project initiation including the licensing and registration of developers, projects and property with the relevant authorities and advising on the rules (and providing assistance) in opening escrow accounts
Advising on the structuring of mixed-use developments with jointly-owned property including strata arrangements
Drafting all real estate related document such as sale and purchase agreements, sub-division and strata documentation, leases, joint venture agreements and default and other legal notices
We advise across a wide range of industry sectors including hotel and leisure, tourism, retail and investment/finance. BSA LLP real estate clients vary from individual purchasers to large and mid-sized developers and include real estate financial institutions, contractors, real estate brokers and government bodies across the UAE.
The firm’s real estate legal professionals provide clients with support in complex real estate transactions. This support includes consolidated input from BSA LLP’s construction, litigation, and banking and finance practice areas and is focused in offering a full range of legal services to real estate clients on local and regional property developments.
Sustainable growth of the UAE real estate sector is dependent on the use of innovative and flexible investment structures. BSA LLP's ability to evaluate market tendencies and resolve any legal or regulatory matters puts clients in the forefront of this continually growing and evolving industry.
