The international financial hub of the emirate Dubai, renowned
for the presence of international companies and firms in the area
has released new regulations related to protections and privileges
of property owners and the tenants.
The law viz. DIFC Leasing Law Number 1, 2020 was implemented by
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President
and Prime Minister of the UAE has the prime objective of increasing
the attraction of property market at DIFC and DIFC’s vow of
aligning the legal and regulatory framework in tandem with the
international best practices.
The new Leasing Law sets out new regulations which can be
aligned with the common law jurisdictions:
- introduction of general requirements
for leases and obligations for lessors and the lessees;
