In brief As the Dubai real estate market continues to break pre-pandemic transaction records, a new real estate law has been introduced to further support the growth of property investment funds in Dubai. With the issuance of Decree No. 22 of 2022 (the Property Investment Funds Law), a new register (the Register of Property Investment Funds) has been established at the Dubai Land Department (the DLD) which entitles registered funds certain rights to facilitate their…
In Brief One of the prominent forms of collateral for creditors nowadays is obtaining a transfer of a client’s accounts receivables. This form of collateral is often referred to as an ‘assignment of receivables’ (“Assignment”), under which the creditor (the “Assignee”) becomes permitted to collect from any pre-existing or future debtors that the client (the “Assignor”) has receivables. The Assignment, although never codified in law (unlike the Novation codified under Articles 1106 et seq. of…