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
In a very much positive and long awaited step, the UAE Ministry of Economy has just reduced the trademark registration fees. According to Ministerial Decree No. (51) of 2019 with respect to the fees of the Ministry’s Services (“Decree”), the reduction of the fees is mainly for the registration fees, which has been reduced up to 33% of the current registration fees (AED 6,700 instead of AED 10,000). The reduction does not affect the filing or the publication fees which will remain the same.
Accordingly the new official fees for filing a trademark up until registration and the renewal would be:
The new registration fees are already implemented and effective as of July 7, 2019.
The UAE has the world highest official fees for trademark registration; hence, the Ministry’s step to reduce the fees is very welcomed and in line with the UAE government decision on fee abolition to positively impact the economy that was issued in May 2019.
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