New property court set to start in October
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 09 September 2008
Property cases that were originally submitted to the Real Estate Regulatory Agency (Rera) and Dubai Courts are poised to be passed on to Dubai’s new Property Court.
Around 500 pending cases will be considered by the new specialist court, which starts sitting in the first week of October, Emirates Business 24/7 reported on Tuesday.
The new court was set up under the First Instance Court to deal exclusively with property-related cases.
“The Property Court will follow the civil law and hence will only try cases pertaining to commercial issues such as cheque and loan defaults,” chief judge Mohammed Yousuf A Sulaiman, who is deputy director of Dubai Courts and the Cassation Court’s senior judge, told the newspaper.
“The real law for the Property Court will be the agreement binding two parties in a civil case. The Property Court will rule in favour of the party that has not breached the agreement.
“There will be no punishments under the Property Court since it operates under the civil code law, only compensation to be paid by the defaulter. Punishments are handed down only by the Criminal Court.”
Judge Sulaiman said the cases involving the arrests of individuals with links to leading property companies in Dubai were still being investigated by prosecutors in the Public Prosecution Court.
Any trials arising from the arrests would be heard in the Criminal Court and not the Property Court.
The new court will initially have 10 judges, and more could be appointed depending on the workload. Consulting judges, who must have worked in Dubai Courts for more than 20 years, have been appointed and are currently undergoing training with Rera about the real estate market in Dubai.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST REAL ESTATE
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST REAL ESTATE
LATEST MIDDLE EAST BUSINESS NEWS
- Technology: DIFC publishes Electronic Transaction Law
- Sport: Kenyan-born athlete seeks to renounce Bahraini citizenship
- Travel & Hospitality: Etihad set to step up relief flights from Thailand
- Banking & Finance: DIFC Investments repays $500mn loan in full
- Energy: Major Asian oil consumers welcome cheaper oil
RELATED STORIES
Property Special 2008
3 stories- UAE's Aabar says to invest $136mn in real estate
23 Nov '08 | News - Bahrain banks real estate exposure below 30% - cbank
10 Nov '08 | News - Indian builders lure home buyers with free cars, gold
4 Nov '08 | News
Real Estate Regulatory Agency
- High-end property defaults on rise - RERA
30 Nov '08 | News - New row erupts over Dubai Lagoon investment
16 Sep '08 | News




