ADGM Publishes a Consultation Paper on the Comprehensive Revamp of its Real Property Regulations

Press release

Published May 31st, 2024 - 09:25 GMT

Abu Dhabi Global Market (shutterstock)

Abu Dhabi, UAE, 31 May 2024: Abu Dhabi Global Market (ADGM), the International Financial Centre of the UAE’s capital, has published a Consultation Paper to seek views on its proposals on the comprehensive revamp of its real property regulatory framework. This regulatory revamp addresses market needs and ensures we stay aligned with market developments, ultimately positioning ADGM Real Property regulation as best-in-class support the growth of the real estate sector.

ADGM seeks input on the following proposed amendments:
amendments to its Real Property Regulations 2015 focused on protections for tenants in short-term residential leases;
introduction of a new framework for the registration of off-plan development projects, off-plan sales, and Project Accounts.
introduction of a framework for registering off-plan and real property professionals, such as brokers, valuers and property managers, who provide services within ADGM’s jurisdiction.
This Consultation Paper is part of ADGM’s strategy to r engage with our stakeholders at every stage of our journey.

Background Information

Abu Dhabi Global Market

Abu Dhabi Global Market is a broad-based international financial centre for local, regional and international institutions, established in accordance with the Federal Law No (8) of 2004, Federal Decree No (15) of 2013, Cabinet Resolution No (4) of 2013, and Abu Dhabi Law No (4) of 2013.

ADGM’s three independent authorities – the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – ensure that our business-friendly environment operates in line with international best practice that are recognised by major financial centres across the world.

In collaboration with other International Financial Centres, global institutions and regulators, Abu Dhabi Global Market develops and supports member institutions with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth.