New Rules to Utilize Federal Properties in the UAE

The United Arab Emirates (UAE) has recently introduced many real estate and finance laws. The Ministry of Finance has introduced Federal Decree-Law No. 35 concerning federal properties. The new law has been introduced to manage both properties, real estate assets, and non-real estate assets. It aims to better utilize federal properties such as railways, bridges, and roads to ensure sustainable growth. Moreover, the digitization of federal properties has allowed the conversion of public properties into private properties without any hassle. However, the Ministry oversees management with the relevant authorities. What is the New Law About? The Decree Law has been introduced to manage the federal government's financial resources domestically and internationally. However, it aims to govern federal assets efficiently to ensure global practices for sustainable growth. A state-of-the-art platform will be created where all properties will be registered, whether they are public or private. ...