Business | Property
Property court to open in Dubai next month
Dubai's Real Estate Regulatory Authority (Rera) will shortly create a property court with operations starting in September.
- By Suzanne Fenton, Staff Reporter
- Published: 23:59 August 7, 2008
Dubai: Dubai's Real Estate Regulatory Authority (Rera) will shortly create a property court with operations starting in September.
Currently, most people with disputes contact Rera in the hope a solution will be found.
The majority of cases do not make it to the civil court as investors are put off by a waiting period of anywhere between 18 months and three years.
However, with the new court, investors, end-users, tenants, contractors and developers will be able to have disputes heard in a much shorter time-frame.
"Rera has a huge amount of work to do already. Once the court is in place, it will have a better market understanding than the civil courts," said Michael Kortbawi, partner at Bin Shabib law firm.
Real estate is playing a large role in generating revenues for the Dubai government.
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