Regulatory Alerts2024-05-27
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Consultation Paper No. 4 of 2024 - Enhancements to Real Property Regulations and Off-Plan Development Frameworks
The Abu Dhabi Global Market Registration Authority proposes amendments to the Real Property Regulations 2015 to introduce protections for short-term residential leases and transitional provisions for Al Reem Island. The consultation also outlines new frameworks for off-plan development, including mandatory escrow arrangements, and the registration of off-plan and real property professionals. These measures aim to align ADGM regulations with those of Abu Dhabi and Dubai while closing legislative gaps resulting from the jurisdiction's geographical expansion.
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