The UAE government is known for implementing and modifying government rules and laws. UAE government has issued a new law regarding federal property management. This is a federal law which applies equally in all the Emirate. MOF or Ministry of Finance issues a new regulation which entirely focuses on the improvement on real estate assets and Non-real estate assets in the country. It was implemented on 28th March 2024, and it was addressed to all the federal real estate and non-real estate assets. Bascially the law is meant to be advanced management of federal properties in UAE. It has also replaced the previous Federal Decree Law 16 of 2018. The new law defines its core features, objectives, importance, and value as well as the most recent upgrade. Contact Lawyers in UAE if you are into some matter related to government. But this is only for those who are from or in the government sector. The private sector is not part of this legal content or article. As we said before contact these attorneys in UAE for a better and clearer understanding.
What is this new Law?
This new federal decree law 35 of 2023, which is applicable to all the properties of the “Federal Government”. It covers all the assets of the federal government including the roads, highways, federal buildings, federal properties, and federal assets. Through the new law all the assets are managed but with a new and modified way. To maintain to enhance and to maintain returns of federal assets is the top most priority.
- You are still not clear about the new law? Then you can check with attorneys and legal consultants. Don’t hesitate and get good attorneys to understand new federal laws and rules.
Objectives
The primary objective of the new law is to establish the latest and advanced digital system. It is for recording the management but through the new electronic system. It is the top focus of the UAE government to set up safety for every government and private sector. Obviously, the aim is to maximize the returns and aim is to increase the returns on federal assets. It enhances the management structure of federal properties.
It will increase the centralised database system and centralised management system with an aim to increase the revenues generated from federal properties. The law throws light on advanced procedures and requirements.
- Objectives are fully related to government or federal assets and the profits generated from them. It requires advanced management systems and protocols, therefore new laws are introduced.
Leasing principals
Leasing principal methods are also improved. The leasing methodology is enhanced in the latest modifications. It provided clear guidelines on planning and development like urban planning and federal development planning. It will also help to sustain and improve federal asset development.
- Leasing is a broad and different concept. You can join the real estate attorneys for leasing understanding. In this article leasing is all about the government assets and revenue discussion is all about and related to the government.
Enhancmenent and Transparenacy
Through this new law federal resources will be managed better than before. New methods and strategies will allow us to benefit from modern technology.
One of the most important steps is clear understanding. A clear understanding means, getting the real and full knowledge. If a person is trying to get more clarity or knowledge then contact any law firm in UAE. Mostly good law firms can be found in Dubai or Abu Dhabi. So join them and grab a good idea if you want. You can also learn about lease agreements.
