ABU DHABI, 31st May, 2024 (WAM) -- Abu Dhabi Global Market (ADGM) has published a Consultation Paper to seek views on its proposals on the comprehensive revamp of its real property regulatory framework.
This regulatory revamp addresses market needs and ensures alignment with market developments, ultimately positioning ADGM Real Property Regulation as best-in-class support for the growth of the real estate sector.
ADGM seeks input on the following proposed amendments: Amendments to its Real Property Regulations 2015 focused on protections for tenants in short-term residential leases; Introduction of a new framework for the registration of off-plan development projects, off-plan sales, and Project Accounts; and introduction of a framework for registering off-plan and real property professionals, such as brokers, valuers and property managers, who provide services within ADGM’s jurisdiction.
This Consultation Paper is part of ADGM’s strategy to engage with stakeholders at every stage.