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Real Estate

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Against the backdrop of continued business and societal disruption caused by the COVID-19 pandemic, M&A activity in the Middle East still showcased some stability in the first quarter of 2020, increasing in value by over USD 5 billion and in volume by 6 additional deals in comparison to Q4 2019, according to the latest report by global law firm Baker McKenzie*. “It is evident that the current global situation has caused a slow down…

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, governments are actively working with global and local health authorities to implement nationwide measures to help curb transmission and mitigate virus-related risks as well as offer relief for businesses and individuals in these challenging times. In response, businesses and government institutions across the UAE are taking necessary action to minimise the impact of the pandemic on their operations, workforce and supply chains, in…

Leading global law firm Baker McKenzie Habib Al Mulla has represented a major real estate developer in the United Arab Emirates (UAE) in successful appeals to two cases to the Dubai Court of Cassation relating to the sale of off-plan property developments in Dubai, and helped set new precedents in this field, reinforcing confidence in the real estate market.

Since the 2008 global financial crisis, the United Arab Emirates (UAE) has taken great care to reinforce confidence in the real estate market. Most recently, the Dubai courts, in particular, have issued a number of landmark judgments that aim to balance the competing interests of developers and buyers, to facilitate the sale and purchase of property in the Emirate, and to keep the market as buoyant as possible in the face of a global economic slowdown.