The Dubai Land Department has completed the final drafting of the “Co-ownership" bill.". The law provides for the dissolution of all property owners" associations in Dubai’s freehold areas—numbering more than 520— and to entrust the management of these properties to specialized companies under the direct supervision of the Real Estate Regulatory Authority (RERA)".

In this regard, the Senior Director of the Real Estate Relations Regulation Department at the Real Estate Regulatory Authority, Mohammed Khalifa bin Hammad, that the law governing the management of condominium properties—expected to be issued before the end of this year—will represent the most significant qualitative leap in the field of real estate management in freehold areas in the Emirate of Dubai.

Bin Hammad added that the new law and its provisions were developed based on local experience to provide solutions for the emirate’s real estate sector, which is characterized by its dynamism and diversity, and is heavily influenced by the investment sector.

Bin Hammad noted that they drew on the experience of homeowners" associations—whose members are elected by unit owners—to have these associations collect service fees and appoint service providers, a system in place in most countries around the world.

He explained that, in accordance with the provisions of the law, joint ventures have been divided into three main categories for management purposes: “major projects,” for which a specialized committee is responsible for confirming their classification within this category, with the companies themselves managing them under the direct supervision of the "RERA" authority, which will monitor service quality through on-site inspections.