Dubai‘s new property court will strengthen international property investor confidence and aid the real estate industry, experts have said.
The new power will take over in October and will adopt cases which were previously put before the Real Estate Regulatory Agency (Rera) and Dubai Courts.
The new system is expected to settle disputes with greater speed and efficiency and create a specialist legal system and professionalism related directly to property matters in the Emirate.
Lawyer Alexis Waller, a partner at Clyde & Company, told Emirates Business:
“Further transparency, a speedier process, judges specialising in this area and increased confidence in the market should all result from the implementation of this new court.”
Hundreds of pending cases are expected to be heard, with the court initially having 10 judges, according to Arabian Business.
Any trials and cases involving the arrests of people linked with big property firms in the Emirate are expected to be heard in traditional criminal courts and not the new property court.
Property investors, buyers and builders with property grievances have previously gone to RERA, which has responsibility for licensing and and registering all real estate activities in the area.
RERA will continue to act to increase real estate awareness as well as retain many administrative duties.
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