The workshop seeks to raise awareness of the legal aspects of doing business in Dubai – with a particular emphasis on property ownership for GCC nationals and foreigners.
Attended by Dubai Chamber members, business representatives, lawyers, legal consultants, investors, real estate developers, brokers, and contract administrators, the workshop dealt with the key legal aspects of real estate, a fast-growing sector in the emirate, touching on such topics as understanding the types of property ownership, implications of purchasing property in the UAE and of signing a sale-and-purchase agreement.
Conducted by John Peacock, Senior Associate, Commercial, Corporate and M&A, and Real Estate at BSA Ahmad Bin Hezeem & Associates LLP, the workshop highlighted the legal issues surrounding real estate ownership and transfer, as well as structuring real estate ownership in the UAE.
Jehad Kazim, Director of Legal Services at Dubai Chamber, noted that in today’s regulated real estate market, where changes occur at a rapid pace and new laws are continuously being introduced, it is the duty of property buyers and sellers to know their rights, be informed, and seek the right advice.
Jehad Kazim: “in today’s regulated real estate market, it is the duty of property buyers and sellers to know their rights, be informed, and seek the right advice”
Kazim added that in the real estate market, it is essential for investors to know and understand the mechanisms available for investment by utilising the best options available to secure their investment without incurring unnecessary legal complications. Moreover, she explained, the workshop provided practical tips regarding real estate property ownership and sale-and-purchase agreements to all parties involved, in order for them to avoid pitfalls be fully aware of the duties and obligations of buyers and sellers.
Dr Ahmad Bin Hezeem, Senior Partner at BSA Ahmad Bin Hezeem & Associates LLP, said: ‘We are delighted to continue our cooperation with Dubai Chamber. The interactive real estate workshop delivered by our Head of Real Estate, John Peacock, was fruitful, as it addressed an important topic: real estate ownership, an area that is continuously evolving on a global and national level, and that is a key area for our practice. We look forward to a continued mutual partnership with the Dubai Chamber to achieve Dubai Vision 2020.’
Dubai Chamber regularly organises trainings, seminars and workshops to appraise the business community with the various trade legislations, laws and rights, as part of its efforts to serve the business community. This ultimately serves to boost trade and contribute to the economic growth of Dubai.