The Role of the Department of Lands and Properties in Achieving Real Estate Security: The Emirate of Dubai as a Model
Dr. Yasser A. Al Fatihat
Associate Professor of Civil Law – College of Law – University of Qatar
This research paper sheds light on the issue of real estate security and the role of the Land & Possessions Department in achieving it, as it is an independent party from both the real estate developer and the investor that the legislator in the United Arab Emirates was keen to attract. To show the importance of this topic, research was limited to studying the concept of real estate security in the Emirate of Dubai based on its real estate legislation for the purpose of achieving this goal. Moreover, this research was not limited to the concept of real estate security in the Emirate of Dubai only because real estate investment in it began to grow gradually and rapidly to take a significant role in the national economy of the Emirate of Dubai, and because foreigners’ ownership of real estate means that their capital remains in the country of the real estate, which necessarily leads to the presence of companies with their various activities to serve and maintain their real estate, which reflected positively on the economic situation in various sectors.
I was keen in searching for an explanation of the role of real estate legislation issued in bearing the shock that occurred after the global crisis, which caused the global real estate market to decline. Therefore, the research reached many results including the necessity of distinguishing between the real estate investor and the real estate buyer, because the ways to achieve real estate security for each of them are different, which requires a review of the legal controls in a way that reflects positively on each of them to try to put them in the real estate security department.
Keywords: real estate promotion, stalled projects, real estate regulatory agency, real estate investor, real estate developer.