Dubai Chamber workshop focuses on real estate agreements

As part of its efforts to promote awareness of the legal aspects of doing business in Dubai, the Dubai Chamber of Commerce and Industry in association with Afridi & Angell Legal Consultants, organised, “Real Estate Agreements Dos and Donts” workshop at the Chamber premises recently. 

The workshop, which was attended by Dubai Chamber members, business representatives, lawyers and legal consultants, investors, real estate developers, brokers and contract administrators, discussed the proper procedure as well as common pitfalls to ensure a successful property sale and purchase transaction.

Jehad Kazim, Director, Legal Services, Dubai Chamber, stated that both the buyers and sellers of a property should be aware of their responsibilities to ensure a legally binding sale and purchase agreement. It is more important for the buyer to understand some of his obligations as a property owner, including property service charges, she said. 

Ms Kazim further stressed that the workshop emphasized on the sale and purchase agreements, particularly with respect to the owner's right of title over the property which is critical in a property transaction. 

She added that the objective of the workshop was to offer proper professional guidance to all parties involved on the aspects of fruitful investments while also providing them tips on taking the right course for a successful property transaction. 

On his part, Geoff Smith Legal Consultant, Afridi & Angell said: "There are a number of legal measures that have been introduced to safeguard property buyers in Dubai, unified real estate contracts being one. 

"While such measures will go some way to introducing a level of fairness and protection to the main parties involved in real estate transactions, the best measure of protection is for property buyers, sellers, and developers to stay informed of latest developments and seek the right advice," he added. 

Dubai Chamber regularly organises trainings, seminars and workshops to apprise the business community with the various trade legislations, laws and rights as part of its efforts to serve the business community which ultimately go on to boost their trade and contribute to the economic growth of Dubai.