Dubai Government Keeps Up with the Aspirations of the
People
His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his
capacity as the Ruler of Dubai, earlier this week issued the Dubai
Law No. (4) of 2019 ("New Law") pertaining to the
Real Estate Regulatory Agency ("RERA") initially
established by law No. (16) of 2007 as predominantly the regulatory
arm of the Dubai Land Department ("DLD").
The New Law provides for a reorganization of RERA's legal
capabilities and capacities and defines a set of important
objectives for RERA, including the contribution to the advancement
of the real estate sector through an integrated system of
regulatory and control measures which shall enhance its role in the
overall economic development of Dubai, provide an assuring and
supportive environment for the real estate development projects to
safeguard the rights of both real estate developers and investors,
keep pace with the steady growth of the real estate sector and all
related
