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.
Share this article
Gulf News classifieds
Popular in Business
Business Editor's choice
-
It costs a million to raise a child
Generation Z doesn't leave home at 18, but stay with the parents until mid-20s
-
Investing in funds doesn't come cheap
Many people are unaware of the effect of different expenses on their returns
-
Firm turns televised events into marketing dream
Drops anchor in Dubai to sell world's richest yachting races
-
Banking
Mortgages: there's light at the end of the tunnel
UAE buyers are securing home loans again
