Tanweer aims to reduce real estate legal disputes

DUBAI Land Department (DLD) is launching a new initiative to minimise legal disputes and protect investors’ rights, to be known as ‘Tanweer’. 

Majida Ali Rashid, Chairwoman of the Center for Promotion and Management of Real Estate Investment, DLD, said: “Tanweer is designed to enhance investors’ confidence in the real estate market and act as a reference guide aimed at setting the frameworks and general principles of the rights and duties of real estate investors in  order to ensure transparency and promote confidence in the market.” 

 

Al Rashid said the initiative aims to improve organisation of the real estate sector; encouraging and attracting local and international investors. 

Tanweer should also enhance the confidence of investors in the real estate sector; ensuring transparency at all transaction stages (whether sale or purchase); providing an umbrella for the protection of investor rights. It is hoped that the initiative will help minimise legal disputes and contribute to improving the real estate sector, and its reflection on the rest of the national economy’s sectors. 

 

Although Tanweer has been announced, it is unclear when the initiative will be launched and how investors can seek protection through it. 

DLD already has a mediation committee that looks at resolving issues cordially. 

 

If disputes are unsettled, either party has the option to go to court.