UAE: New Law On Real Estate Ownership In Umm Al Qaiwain

H.H. Sheikh Saud bin Rashid Al Mu'alla, Supreme Council Member and Ruler of Umm Al Qaiwain, has issued a new law on Real Estate Ownership in the Emirate of UAQ. and legal persons who are granted ownership as per a decree issued by H.H. Sheikh Saud. The law mandates the organisation of a committee known as "The Compensations Assessment Committee" in accordance with a prior Executive Council Resolution, as well as the regulation of such civil transactions in the emirate by the Civil Transactions Law. The law also states that all real estate rights acquired and/or granted under Law No. 3 of 2006 concerning real estate ownership and its amendments under Law No. 1 of 2009, as well as any other applicable law, regulation, or resolution, will remain in effect as long as they do not contradict the provisions of this law. Except in investment zones, the legislation states that Emirati citizens only have the right to own property in the emirate. The Law is referred to as Law No.1 of 2021 on real estate ownership in Umm Al Qaiwain, and shall come into force on the date issuance and publication in the Official Gazette.