Department of Municipalities and Transport issues regulatory decisions to enhance transparency and governance in real estate sector in Abu Dhabi

• Four administrative decisions issued to implement provisions of Law No. (3) of 2015 in Abu Dhabi (as amended), addressing escrow account disbursement controls, jointly owned property management, owners’ committee bylaws, and compensation due to developer in the event of a purchaser breach of obligations under an off-plan sale agreement, as well as the procedures for refunding of outstanding amounts to the purchaser.

• Abu Dhabi continues to strengthen its position as a leading global real estate investment destination through a flexible and sustainable legislative environment that supports developers, protects investors, and responds to future growth requirements
• H.E. Rashed Al Omaira: The decisions establish a clear executive framework for the provisions of the law, ensuring a balance in contractual relationships as it clarifies the rights and obligations of all parties involved whilst ensuring efficiency of procedures.

His Excellency Rashed Al Omaira, Director General of ADREC

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