Sharjah Consultative Council Approves Draft Law on Real Estate Leasing for 2024

Owner's Profile

Staff Writer, TLR

Published on March 18, 2024, 16:00:18

147

Sharjah Consultative Council Approves Draft Law on Real Estate Leasing for 2024

Sharjah Consultative Council (SCC) has endorsed a draft law concerning the leasing of real estate in the northern emirate for the year 2024, following the introduction of several amendments during the sixth meeting of the first regular session of the eleventh legislative term.

This marks the second draft law to be deliberated by the Council at the onset of its activities for the eleventh legislative term, Wam reported.

During the session chaired by Dr Abdullah Belhaif Al Nuaimi, the Council deliberated on the real estate leasing draft law and examined the report presented by the Legislative and Legal Affairs, Appeals, Suggestions, and Complaints Committee of the Council.

Counselor Dr Mansour Mohammed bin Nassar, Head of the Legal Department of the Government of Sharjah, praised the development, emphasising the significance of the current draft law as it establishes a framework that contributes to Sharjah's progress and its commitment to regulating landlord-tenant relationships in accordance with existing laws in the emirate.

"Sharjah is an attractive environment for investors and families, hence the need for robust laws and regulations governing real estate transactions, including purchases, sales and other property rights, all of which will be addressed by the draft law," he said.

"Given that the previous law dates back to 2007, approximately 17 years ago, there is a pressing need to amend it to keep pace with developments and meet the evolving needs of all parties involved," the Counselor added.

Khaled Falah Al Suwaidi, Director of Customer Service at Sharjah Municipality, highlighted that the draft law includes regulatory provisions that align with the vision to enhance tourism, investment and residential appeal in the northern emirate.

"The current wording of the draft law addresses the societal living conditions and brings together all relevant stakeholders under an organised legal framework that reflects the developments and demand in the real estate sector of the emirate," he added.

For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3007Follow The Law Reporters on WhatsApp Channels.

Comments