Federal Decree-Law No. (28) of 2024 Regarding the Establishment of the Ministry of Family
December 26, 2024
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ME-ALLIANCE LEGAL UPDATE
Abu Dhabi Global Market (ADGM) Issues New Regulations for Real Estate Property
► The Board of Directors of Abu Dhabi Global Market (ADGM), in exercise of its powers under Article 6(1) of Law No. (4) of 2013, as amended, on the Abu Dhabi Global Market issued by His Highness the Ruler of the Emirate of Abu Dhabi, enacts a regulation for real estate in the areas under its jurisdiction (Al Maryah Island and Al Reem Island), which aims to:
(a) to provide assurances as to title to real property within the Abu Dhabi Global Market Area;
(b) to define the powers and functions of the Registrar in relation to real property within the Abu Dhabi Global Market Area; and
(c) in particular, provide for a system whereby the Registrar in furtherance of the Abu Dhabi Global Market Law, shall be permitted to create folios of the real property in order to facilitate dealings in such real property as of the date of the effectiveness
of these Regulations.
The regulation mainly includes the following topics:
1- Real property interests and conveyances generally
2- Administration
3- initial registration of real property and titles
4- joint holders
5- transfers
6- leases
7- mortgages
8- Easements
9- Covenants
10- Transitional provisions
These articles will come into effect on Al Maryah and Al Reem islands starting from 1-10-2024
All of the following articles are going to be explained in separate legal updates later on.
For further details, read the Regulation through the link below:
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