Sunday 8 April 2012

Dubai's new initiative to reduce real estate legal disputes - Emirates 24/7

After launching two initiatives in the last two years to revive stalled projects in the emirate, the Dubai Land Department (DLD) is all set to unveil its new initiative - Tanweer - that aims to minimise legal disputes and protect investors’ rights.

Majida Ali Rashid, Chairwoman of the Center for Promotion and Management of Real Estate Investment, DLD, told Emirates 24|7: “Tanweer is designed to enhance investors’ confidence in the real estate market and act as a reference guide aimed at setting the frameworks and general principles of the rights and duties of real estate investors in order to ensure transparency and promote confidence in the market.”

The prime objectives of the programme include contributing to the organisation of the real estate sector; encouraging and attracting local and international investors; enhancing the confidence of investors in real estate sector; ensuring transparency at all transaction stages (sale or purchase); providing an umbrella for the protection of investor rights; minimising legal disputes and contributing to improving the real estate sector and its reflection on the rest of the national economy’s sectors.

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