Abu Dhabi Municipality Continues Transfer of Property Units to Owners

Press release
Published April 1st, 2018 - 10:51 GMT
The Municipality has 31,562 registered units out of which 12,050 units have been transferred to owners so far.
The Municipality has 31,562 registered units out of which 12,050 units have been transferred to owners so far.

The Abu Dhabi City Municipality (ADM) is continuing the transfer of property units to owners in implementation of the Real Estate Law No (3) for 2015. The move reflects the Municipality’s keenness to stabilise & revitalise the real estate market, protect the rights of all parties, and simulate the investment & development.

According to the latest statistics, the Municipality has 31,562 registered units out of which 12,050 units have been transferred to owners so far. The Municipality urges the concerned parties to register their property units as early as possible.

For this sake, the Municipality has held a series of meetings with main and subsidiary property developers to encourage them to register their projects. The Municipality calls upon all owners of property units to respond quickly to the requests of property developers regarding the provision of their updated details and documents. Observing these requests will facilitate the issuance of ownership deeds in the name of buyers, thus enabling them all types of real estate trading, besides maintaining all the legal rights of the buyer versus the developer.

The simplified steps approved for the transfer of ownership are unprecedented. They will enable a quick transfer of ownership based on the details provided by developers to the Department in this process without obliging the buyer to attend.

The Law No (3) for 2015, which had been put into effect on 1st January 2016, governs the business of the real estate sector. The Law has 7 Executive Regulations to enhance the principles of governance and transparency and protect the rights of all concerned parties. These Executive Regulations are related to the common ownership of properties, owners associations, primary property register, endorsement of fees, registration of real estate assessors, mortgages, project screw account, and licensing.  

The Municipality is keen to boost the cooperation with strategic partners, including property developers, to keep pace with the new registration regulations. It is also committed to overcome the difficulties encountered in the registration process and develop appropriate solutions and suggestions to ease the registration process. The Municipality is making expeditious efforts to facilitate the procedures for developers and establish effective communication with them. The registration of projects and property units by developers contributes to protecting the rights of all concerned parties, driving the developing across the entire community, and keeping pace with the economic and urban upswing seen by Abu Dhabi.

The Municipality has registered and approved all screw accounts of real estate projects under construction in accordance with the Law No (3) for 2015.

The Municipality is committed to raising the awareness about the real estate law among property developers, investors and owners of units.

Accordingly, the Department has issued Circular No (2) for 2018 offering a grace period to all property developers to sort out their pending cases before 14/3/2018, register all types of property deals, and transfer them to the Property Register at the Municipality.

Background Information

بلدية مدينة أبوظبي

نعمل في دائرة التخطيط العمراني والبلديات على تفعيل استراتيجية أبوظبي للتطوير الشامل وندعمها من خلال خطة أبوظبي وترجمة مبادئها الجوهرية إلى واقع مَلموس بعملنا على تطوير خطط هيكلية استراتيجية تساعد في رسم ملامح مستقبل التطور المتكامل لإمارة أبوظبي استناداً إلى أُسس مدروسة تدخل فيها اعتبارات البنية التحتية، والبيئة، وسهولة الوصول، والنسيج العمراني، ومساحات الأراضي المتاحة وأفضل استخداماتها، والخدمات التي تمكننا من إعداد استراتيجيات تخطيطية تغطي جميع أرجاء الإمارة.

 

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