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Transport, Energy & Revolving Synergy
The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.
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A complete spectrum of legal services across jurisdictions in the Middle East & North Africa.
Abu Dhabi Property Law
Department of Municipal Affairs and Transport (“DMAT”) introduces caps on Developer Fees and Broker Fees and the Standard Form of Brokerage and Sub-Brokerage Agreements.
The Department of Urban Planning and Municipalities (“DPM”), previously known as DMAT, has set a cap of AED 5,000 on administrative fees which developers may charge on disposals. This cap, introduced in Decision No. 183 of 2017 of the Chairman of DMAT, was effective from 15 November 2017.
Decision No. 183 of 2017 also sets caps on broker commission fees, as follows:
- for sales, a cap of 2% of the purchase price (subject to a maximum fee of AED 500,000); and
- for leases, in the absence of an agreement on the brokerage fees, a cap of 5% of the total rent of the entire lease term.
DPM also published standard forms of brokerage agreements and sub-brokerage agreements. Use of these standard agreements is now compulsory, however, it is possible to include additional provisions.
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