The regional real estate, construction and hospitality sectors have been turned upside down over the last two years, with Covid-19 bringing these sectors to a halt. The impact of the pandemic remains, however, the resurrection of these vital sectors across the region is a welcome relief because they support the development of modern cities, which in turn have attracted commerce and tourism to the Middle East and North Africa.
This latest edition of Law Update, provides vital insights, updates and commentary on the latest trends taking shape across the real estate, construction, hotels and leisure sectors. The articles within this edition cover a broad range of topics, from what’s next for real estate in Dubai, to commentary on Saudi real estate, a market that is set to become the main bedrock of the region for years ahead. You will find articles on reforming real estate laws in Qatar, foreign investment and ownership in Oman, and mitigating risks on hotel construction projects and the lessons learnt from Covid.Read the full report
Following the establishment of the Court of Investment and Trade effective May 10th 2022, Qatar’s Cabinet issued decision no. 6 / 2022 specifying the fees for lawsuits, requests and guarantees at the Investment and Trade Court. The decision was published in Official Gazette no. 7 of 2022 dated July 3rd 2022, and became effective on July 4th 2022.
The Investment and Trade Court was established as part of the Qatar vision 2030 to accelerate the pace of trade disputes in a manner that creates an attractive economic environment, in line with Qatar plans to increase investments. The court is intended to provide a fast track dispute resolution with quality and efficiency.
Commercial matters in general as specified by Article 7 of Law No. 21 of 2021 Establishing the Investment and Trade Court.
Those commercial matters include disputes related to commercial contracts, disputes arising between merchants and related to their commercial activities, disputes arising between partners or shareholders in commercial companies, disputes related to commercial assets, disputes related to the transactions of banks, commercial papers, and insurance companies, disputes related to bankruptcy, and disputes related to Intellectual Property, competition, and e-commerce.
Below are examples of disputes falling under the jurisdiction of the Investment and Trade Court, provided by the Supreme Judiciary Council:
We would be delighted to provide more information about this development, or support your entity in adapting to the new regulatory framework. Please let us know if we can assist by contacting Roy Georgiades or by contacting one of the authors of this alert.