DLD partners with Hadef & Partners on Real Estate Lawyer initiative

Dubai Land Department (DLD) signed an agreement to license and regulate ‘Real Estate Lawyer’ initiative services with Hadef & Partners. The agreement was signed by HE Sultan Butti bin Mejren, Director General of DLD, and Sadiq Jafar, Managing Partner of Hadef & Partners in Dubai, and in the presence of His Excellency Dr. Hadef Al Dhaheri, Founding Partner of Hadef & Partners.

This agreement comes after DLD had approved the Real Estate Lawyer initiative. Hadef & Partners was selected after having fulfilled the required conditions and for being one of the specialised law firms with international experience, constituting a group of legal experts and licensed in accordance with the regulations enforced in Dubai.

HE Sultan Butti bin Mejren said:

“The Real Estate Lawyer initiative aims to facilitate the mechanisms of the real estate sector and works to enhance and expand regional and global real estate investment channels in Dubai. Through agreements with a number of partners operating in this field, we seek to provide opportunities and facilitate the ability of foreign companies to own properties in Dubai’s real estate market. We are keen to select the most qualified and reputable law firms in the market, such as Hadef & Partners, that commit to the high standards we established in the real estate market to ensure the satisfaction and happiness of our customers and achieve their comfort in easily obtaining services by completing the regulatory and investment measures.”

According to the agreement, DLD will grant a licence to initiate the provided services, taking into account the procedures, laws, and quality to maintain Dubai’s competitiveness level. Hadef & Partners will provide many services, namely querying and researching investor records and issuing certificates regarding the companies that DLD would subsequently approve. A real estate lawyer may rely on the papers and documents submitted by the companies without the need to translate them to Arabic or certify them and must adhere to legal standards as well as exercise due diligence in issuing these certificates.

The real estate lawyer may also seek the assistance of law firms outside the UAE to ascertain certain procedures in the company’s country of origin, with a commitment to exert the utmost efforts in confirming the accuracy of the documents submitted by customers. The lawyer will also provide real estate sales escrow account services and legal advisory services on real estate matters in accordance with DLD’s regulations as well as to other services that can be agreed upon between the two parties. The duration of the agreement is valid for one year, and could be renewed for a similar period based on the agreement of the two parties

Dr Hadef Al Dhaheri said:

“We express our pride in our cooperation with DLD for this initiative, and we look forward to working and collaborating with DLD on enhancing investment in Dubai’s real estate market, providing the necessary legal support to investors in Dubai and around the world, and contributing to promoting the emirate’s position as one of the best investment destinations in the world.”

Through the Real Estate Lawyer initiative, DLD aims to provide many investment solutions to help position Dubai as a global destination for real estate investors, allowing for the strengthening of real estate investments in the emirate and facilitating the buying and selling of properties by companies with full foreign ownership, thus opening the market to more corporate investors to attract more foreign real estate investment.

This article, together with any commentary, does not constitute legal advice. It is provided solely for information purposes on a complimentary basis, without consideration of any specific objectives, circumstances or facts. It reflects then current views of the writer which may modify in time and based on differing objectives, circumstances or facts. A writer's view may differ from views of colleagues and/or the firm. You should seek legal advice on each specific matter. Access to this article does not form an attorney-client relationship.
In this UAE Managing Partner Report with LexisNexis, Sadiq Jafar, Managing Partner, Dubai discusses the post-COVID-19 landscape for Law Firms. Find out more below:

What are the biggest challenges for your clients over the next 6 months?

Although we would very much like to believe that the majority of our clients have strong and robust business models, it is inevitable that a number will be tested by the evolving environment of reduced demand and liquidity. Maintaining positive cash-flow will be a major objective and challenge for businesses globally, and the UAE is no exception. Many entities (including some of our clients and many of their counterparties) will struggle to perform their obligations as they fall due. This will lead to an increase in disputes, restructurings and insolvencies. We also expect that the market fallout will lead to opportunities for some clients to benefit from a reset in the competitive environment. Some may seek to develop new business lines or acquire assets at distressed prices. In parallel, the large number of participants in key sectors such as transport, tourism, trade and retail will need to respond in an agile manner to the phased re-opening of business activities and borders, while controlling costs to address the impact of diminished footfall and revenues.

What regulatory initiative would you most welcome to support the recovery and growth of UAE businesses and/or the legal sector generally?

We welcome increased opportunities for foreign shareholders and investors pursuant to the Foreign Direct Investment Law, which enables up to 100% ownership in designated sectors. The government may now opt to accelerate implementation of its FDI strategy in order to bolster economic performance. This, together with the programme providing long-term residence for qualifying investors, will enhance economic activity, government revenues and the establishment of a cosmopolitan business community that is integrally committed to the long-term success of the UAE.

What is new with your firm?

Covid-19 accelerated the adoption of technology and more flexible working practices, all of which has been embraced by our lawyers and clients in the spirit of working closely together.

What gives your firm the edge in a competitive market?

Our longevity in the market, allied with the depth and scale of our full-service offering, provides a real and meaningful edge. Hadef & Partners is one of the oldest UAE law firms and has therefore navigated previous crises and economic downturns on behalf of our clients. Although each situation may have differences, we have confidence in our ability to provide the required counsel, resource and service to our clients, irrespective of the level of complexity or urgency of each advice, transaction or case. Our team of 100 lawyers understand the laws, traditions, challenges and opportunities of this region, and our large team of advocates is licensed to appear in all the courts and tribunals of the UAE, which enables us to actively support clients that pursue or defend claims.