Advocates without Frontiers

New regulations governing real estate professionals nearing completion, Dubai Land Department says.

AWF — Sat, 17 Apr 2010 09:30:32 +0000

New regulations governing real estate professionals nearing completion, Dubai Land Department says.

Final changes to Dubai’s property valuations law will soon be applied, one of the industry’s senior figures has reportedly confirmed.

Updates to regulations governing the emirate’s real estate professionals are 80 per cent complete as talks with industry-related authorities to secure final approvals continue, according to Mohammad Al Dah.

The head of Taqyeem, a property appraisal body established by the Dubai Land Department and Real Estate Regulatory Agency, also said the new law would be implemented in two stages.

Under the new rules, property valuation companies must secure trade licence approval from the Department of Economic Development to operate. They then have to register its valuators with Taqyeem.

Al Dah said the registration process is necessary to ensure each valuator has the right experience and qualifications.

“Companies that offer brokerage services cannot offer valuation services except through a separately-licensed valuation company with separate staff and they will need to fulfil other basic licensing criteria,” a UAE daily quoted him as saying.

“Additionally, the department said that as per the new law for real estate valuations, every valuer would need to attend the relevant course and pass a proficiency exam.”

When registering, valuation companies will need several documents including accredited university degrees, portfolios showcasing previous work and certificates of experience.

Last October, the Land Department said brokerage firms that also provided valuations services would have to choose just one of those areas to specialise in.

Filed under: Real Estate Issues

Dubai property prices rose 0.7%

AWF — Sat, 17 Apr 2010 09:28:34 +0000

Dubai property prices rose 0.7% in
the final quarter of 2009, compared to the
previous quarter, according to new research

The figures from the new Sales Price Index for Dubai (SPID), which has been launched by REIDIN.com in partnership with the Real Estate Regulatory Agency and Dubai Land Department, is regarded as the emirate’s first accurate property index that will be a benchmark for the industry.

Until now data has been hit and miss but this new index is aimed at providing the market with a series of indices and data sets that can help improve transparency across the market and help real estate professionals benchmark and analyse residential price trends.

According to the latest information, the price of villas rose by 2.6% during the fourth quarter but overall prices are down 19.7% in 2009 compared to the fourth quarter of 2008.

Some of the 10 main districts covered by the index included Palm Jumeirah, where prices showed an increase of 2 % quarter on quarter. However, the quarterly figures for both Emirates Hills and Jumeirah Lake Towers fell by 19% during the same period, the report shows.

‘Ensuring the accuracy of market data and relevance to local market conditions is our top priority, which has prompted us to appoint an advisory committee, comprised of academicians and industry professionals from different emerging economies to monitor the quality of the indices,’ explained Ahmet Kayhan, chief executive of REIDIN.com.

‘Furthermore, we have established a Property Indices Oversight Committee to be responsible for reviewing and recommending changes in index policies and procedures, required data elements, qualifying properties, monthly index production review and taking of any other actions deemed necessary to assure index statistical integrity,’ he added.

Meanwhile one of the UAE’s most respected businessmen says that stabilisation and slow growth is the best prospect for Dubai’s real estate sector. Habtoor Group founder Khalaf Al Habtoor, said he would like to see price increases of around 10% in the next three years.

‘We don’t want prices to rise, we want it to stabilise to give appetite to the people of this country, to the people visiting this country to buy and rent,’ he said.

Filed under: Legal Issues

Legal practioners

AWF — Mon, 29 Mar 2010 11:50:22 +0000

Legal practioners that continue in the same vein after the downturn will be left behind, according to an Eversheds study.
Law firms must shape up or risk losing clients to more adaptable competitors, a legal expert in the Middle East has claimed.
Chris Jobson, managing partner at Eversheds Middle East, insisted on Monday that firms with inefficient, inflexible practices would fall behind their rivals as the legal profession undergoes significant changes.
In its law firm of the 21st century report, Eversheds said the financial crisis was forcing legal practitioners to offer alternative billing options to the conventional hourly rates. Some had also reduced their fees or started providing additional services such as secondees for no extra cost, he added.
“Law firms need to demonstrate where they can add real value to a client’s in house team – 87% of clients now say that value-added services such as secondees or free access to knowledge management resources are a crucial factor in their decision to instruct external law firms,” Jobson said.
“The change that was predicted to take place over the next 10 years is here now, and it will be those firms who respond to the trends identified in the report who will see the real benefits.”
Jobson said since the onset of the economic downturn, the balance of power had shifted to the clients.
“As well as globalisation and the increased use of technology to deliver efficiency, the key change is the shift in power to the client, which is largely due to in-house counsel taking a more important commercial role within their companies.
“This will prove to be a real shake down for the legal sector and its workings, and law firms will need to really to prove their worth as in house teams expand their expertise.”
Of the 13 General Counsel and 80 worldwide law firm partners questioned for the Eversheds report, 78% said clients expected top value and efficiency from their legal advisers.
The report also said that while many of the respondents’ clients were now receiving better value for money, two thirds of General Counsel were dissatisfied with the high fees that external lawyers charge. In response, 47% of partners claimed to recognise the concern, but only 25% were providing reduced rates, according to the study.
Other findings from the report show that apart from the recession, 37% of respondents believe globalisation and rising interest among law firms to move east have sparked changes across the legal profession.The role of in-house lawyer has also changed, with 74% of General Counsel insisting they now occupy a more senior commercial advisory role than before the recession. Of that figure, 55% said they had more responsibility for corporate governance matters.

Filed under: Legal Issues

Arbitration

AWF — Mon, 08 Feb 2010 07:28:27 +0000

Arbitration is currently considered as one of the best simple policy used in disputes settlement worldwide. This is why the firm adopted a methodology since its foundation in this respect i.e. it continuously prepares and brings up a technician cadre of professional lawyers whose mission is to deal with the arbitration inside and outside UAE. This cadre is completely acquainted with any laws in connection with arbitration, thanks to their deep experience in arbitration that drawn form following the arbitration cases which had been preceded between the companies, local and international establishments inside and outside the state.

Filed under: Legal Issues

Sharia Cases

AWF — Sat, 30 Jan 2010 11:09:26 +0000

Advocates without Frontiers is a private law firm duly licensed to perform legal profession and advocacy all over U.A.E through its Head Office, located in Dubai and Sharjah Branch which is responsible for all federal cases and our Office is equipped with highly qualified harmonious Office with a vast experience in all fields of law, we have a group of young Nationals who are keenly interested in professional development with the Officials to render services under the able guidance of two experienced Staff and the fact we had to work to have a team of highly qualified staff and vast experience for control and conditions to ensure that they have unique and distinctive skills.

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Filed under: Legal Issues

Patent/copyright registration

AWF — Sat, 25 Jul 2009 05:53:27 +0000

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Intellectual Property

Posted in Property

Motor/fire/life insurance

AWF — Sat, 25 Jul 2009 05:49:41 +0000

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Civil Law is considered as one of those laws which regulate the daily life of individuals, establishments and companies. Therefore, our firm concerns its self with appointing a cadre of professional advocates on a high level and specialized in all various branches of civil law including but not limited to; lease code which regulates relation between proprietor and lessee. Such Cadre is approved to appear before municipality Depts. and represent clients in lease disputes. This team has in-depth exposure to insurance law; provides protection for the rights of the insured, renders legal advices in all different areas of insurance (including motor, fire, life, industrial insurance), compensation cases that specifically resulted from insurance relations and other compensation cases in general, labor law and in legal matters that regulate relation between the employer and employees.

Posted in Civil Law

Purchase and Building of ships

AWF — Sat, 25 Jul 2009 05:46:52 +0000

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Maritime Law

In maritime law by our appointment of qualified lawyers to deal with maritime disputes and have experience in:

Drafting Maritime contracts, reviewing of investments and provide them with legal assistance.
Contracts for sale, and purchase and building of ships.
Dealing with issues of Marine Insurance.
Issues arising out of maritime pollution.
Seizure of Steamer as per executive provisions or taking under custody in case of apprehension of losing financial right of the firm.
Appeal against seizure of Steamer and its release.
Formulation of shipping Contracts.

We are also following up meetings on behalf of our clients and take part in negotiation to achieve the best possible settlement in favour of our Clients and make judicial warnings to collect funds belonging to our Clients.

Prosecution of maritime disputes arising out of breach of contractual obligations and suitable application of law to all facts and access to the best and optimal solution for our clients with a complete understanding of all international Conventions and application in an appropriate way.

Posted in Maritime Law

Maritime law

AWF — Sat, 25 Jul 2009 05:44:41 +0000

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Maritime Law

Posted in Maritime Law

Bank Rules/Law/Creditors/Debtors/Banking transactions

AWF — Sat, 25 Jul 2009 05:35:14 +0000

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For more info regarding this law ,click the link below

Commercial Law in UAE

Posted in Legal Issues