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Find out moreThe 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.
Read the full editionH.H the Ruler of Sharjah has issued Law No. 2 of 2022 amending Law No. 5 of 2010 on Real Estate Registration in the Emirate of Sharjah on 31 October 2022. The new Decree amends Articles 4 and 7 of Law No. 5 of 2010 which relates to the Right of Ownership of property in Sharjah. The amendment replaces Article 4 of Law No. 5 of 2010 with the following text:
The right to own real estate in the Emirate is limited to persons who are citizens of UAE and citizens of the Cooperation Council for the Arab States of the Gulf, and as an exception to this, the right of ownership may be granted to others according to the following:
This Decree has added three more exceptions and relaxed the restriction on foreign ownership of real estate in the Emirate of Sharjah which is a great step toward opening the real estate market to foreigners.
Article 7 has been amended and oblige the owners to do the following:
We urge all our clients to update their title deeds for properties in Sharjah pursuant to Article 7 of this Decree.
If you would like to know more about the new law and its implications for you, please contact our team via email: property2@tamimi.com.
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