Dubai has been under a lot of pressure since the credit and liquidity crunch unfolded. Dubai has been on proactive mode for making laws that have been pro investor and pro tenant. Last six months have seen promulgation of many new laws for the Dubai real estate. Most of these new laws are focused on the reinstatement of confidence in the investors to rethink their stance regarding investing in the Dubai real estate market. There have been laws amendments for the tenants as well. The new laws for the tenants have been revamped to include more of their rights.

One of the basic problems in real estate market has been undue preference in laws for the landlord. This not only significantly reduced the negotiating power of tenants but some of the property agents and landlords were also found taking undue advantage of the situation. In order to provide equivocal cords to the buyers of the properties, a new law has been introduced. This new law will provide the buyers with the power to get their payments refunded for a project, if the project is proven unfeasible to pursue. One of the leading law firms Al Tamimi & Co. through its newsletter announced the details of the new law. The new law provides the buyer protection against the changes made by the developer not in accord with the specifications mentioned in the original plan.

This law will not only ensure that the real estate developer pursues the project in time but also follows what he originally planned to do so. The developer in case of making a defective property will be made liable to replace or even refund the said amount handed over to him by the buyer. This new law will ensure that developers will not get away with the money without providing what they promised to their buyers. This additional protection will ensure a more regularized sector of development in real estate. It is also said to improve the over all developmental standards but also improve the level of compliance with which the developer has to abide by.