Real Estate Development Structure in Abu Dhabi
Chapter 1 Competencies and Powers of the Department
- The Department shall have the competence to organise and develop the real estate sector in the Emirate as well as to supervise and control all the matters related to this sector, and coordinate between the municipalities in this regard, and it shallin particular assume the following functions:
- Issuing the licences of Brokers. Brokers1 employees. Auctioneers. Directors of the owners’ union, Evaluators and Surveyors.
- Supervising and auditing the management of the project escrow account.
- Issuing developers’ licences and registering the same in the real estate development register.
- Reviewing the plans and documents related to it and register the same in the real estate development register.
- Accredit the account trustees who are approved by the Department to operate the project escrow account.
- Controlling the compliance of the owners1 union with the obligations determined in this Law and its Executive Regulation. including the auditing of the owner1s unions’ accounts.
- Managing and supervising the real estate development register, the Initial Real Estate Register and the Real Estate Register.
- Supervising the application and implementation of the provisions of this Law as well as the executive regulations and resolutions issued in implementation thereof.
- Enhancing the professional development of the licensees and any person who shall be registered with the Department and providing advices thereto according to the provisions of this Law.
- Controlling the compliance of the concerned entities with the obligations determined in the provisions of this Law and its Executive Regulation concerning the promotion and advertising in the real estate sector and the marketing of real estate projects.
- Issuing the statistical reports, indicators and specialised researches concerning the real estate sector in the Emirate, including the preparation of the bulletins and statements which serve such researches.
- Preparing and developing the programs which contribute in the activation of the role of the Nationals of the Country in the real estate sector and their encouragement to work therein.
- Implementing educational and guiding programs about the rights and obligations of the concerned parties in the real estate sector in the Emirate.
- Examining customer complaints and working to resolve them.
- Working on the provision of mechanisms to resolve the disputes related to the real estate sector in the Emirate.
- Any other competencies or tasks entrusted to the Department by the Executive Council.
- The Department may have recourse to any legal person to work under its supervision to exercise any of its competencies and powers determined pursuant to the provisions of this Law. It may as well, assign some or all of its competencies and powers to the Municipalities.
Chapter 2 – The Administrative Structure of the Department
The Department shall set the appropriate administrative structure to assume its competencies and powers and exercise its functions pursuant to the provisions of this Law in preparation for its approval by the Executive Council.
Chapter 3 – The Real Estate Development Register
- The Department shall prepare a real estate development register in order to keep all information of any statements or documents related to real estate development projects, including:
- The statements or documents related to the licenses.
- The statements or documents related to the account trustees and the agreements of the project escrow account.
- The statements or documents related to the permits of marketing real estate development projects.
- The details of the main or subsidiary development plans of the real estate development project, including the initial compound plan and the floor plan deposited with the Department.
- Any other statements or documents of which registration in the real estate development register is deemed necessary by the Department.
- The Department may use the documents kept with the relevant entities in order to implement the aforementioned.