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Read NowOn 21 August 2023, the Ruler of Ras Al Khaimah issued Decree No. 12 of 2023, regulating the Real Estate Development sector in Ras Al Khaimah (the “New Law”).
The New Law specifies the rights and obligations of master developers, sub-developers and purchasers of real estate development projects and applies to:
(a) all real estate developers that wish to conduct their development business in Ras Al Khaimah; and
(b) all properties which are located in the Emirate of Ras Al Khaimah, including any economic zones.
The New Law is effective 60 days from the date of its publication in the official gazette which is 20 October 2023.
If you would like to know more about the new decree and its implications for you, please contact our team.
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