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Find out moreReal estate, construction, and hospitality are at the forefront of transformation across the Middle East – reshaping cities, driving investment, and demanding increasingly sophisticated legal frameworks.
In the June edition of Law Update, we take a closer look at the legal shifts influencing the sector – from Dubai’s new Real Estate Investment Funds Law and major reforms in Qatar, to Bahrain’s push toward digitalisation in property and timeshare regulation. We also explore practical issues around strata, zoning, joint ventures, and hotel management agreements that are critical to navigating today’s market.
As the landscape becomes more complex, understanding the legal dynamics behind these developments is key to making informed, strategic decisions.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
After many years of consultation and calls for regulating finance lease activity in the UAE, the draft finance lease law which was approved by the UAE’s National Council in 2018 is now in force by publication in the Official Gazette.
The Law will be supplemented by a set of implementing regulations applicable to the licensing of finance lease activities in the UAE. The Law mandates the Central Bank of UAE (CBUAE) to regulate the lease financing and accordingly the CBUAE shall issue its regulations or circulars to licence finance lease activities in the UAE.
We enclose with this update an Arabic version of the Law.
Salient provisions of the Law are set out below:
It is important to note that the Law stipulates a grace period of one (1) year for full compliance with the provisions of the Law. Therefore, all concerned parties need to register the existing finance lease contracts before the end of 2019 and all entities carrying out financial leasing in the UAE must approach the CBUAE for guidance on adjusting their licences.
It is not clear whether UAE-licenced financial institutions will be required to apply for a separate licence from the CBUAE to carry out financial leasing activities. It is expected that the CBUAE will issue implementing regulations and/or notices to clarify the steps to be taken during the transition period.
Given the importance of this much awaited Law to banks, finance companies and captive financiers, we will circulate further updates in due course.
Jody Waugh
Partner, Head of
Banking & Finance
Mamoon Khan
Partner,
Banking & Finance
Sarah El Serafy
Senior Associate,
Banking & Finance
Ali Awad
Senior Associate,
Banking & Finance
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