Saturday, August 09, 2008

New property court in Dubai to get operational in September

Dubai's RERA (Real Estate Regulatory Authority) will soon create a property court, which is likely to begin operations in September.

At present, although majority of dispute cases are attended to by RERA, the disputes do not make it to the civil court, as investors will have to wait for a certain period, ranging from 18 months to 3 years.

However, with the new court likely to be introduced, the end-users, tenants, investors, developers and contractors can have their disputes heard in a shorter time-frame.

Michael Kortbawi, a Partner at Bin Shabib law firm, said that RERA is already loaded with work. On establishment of the new court, it will have a better understanding of the market than the civil courts.

Real Estate is a major contributor to the revenues for Dubai government.

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