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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
Abu Dhabi will soon publish a new law aimed at better regulating the real estate sector in Abu Dhabi, which has been through more than seven years of consultation, review and drafting. This will be a positive step towards attracting increased real estate investment in Abu Dhabi, and across the UAE more broadly, as the new law tackles many concerns raised by investors in the past. It also draws on the real estate investment experience in the remainder of the UAE, and especially in Dubai, over the last 10 years.
There are many encouraging provisions in the law including provisions for licensing, registering off-plan developments, restrictions on developers collecting registration fees, setting up owners’ associations for jointly owned property, mortgages and dealing with delays in construction.
We will provide a summary of this new law as soon as it is published.
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