UAE Ministry of Finance Issues the Federal Properties Decree-Law

UAE Ministry of Finance Issues the Federal Properties Decree-Law

The UAE Ministry of Finance issued Federal Decree Law No. 35 of 2023 on Federal Properties “New Decree” that replaced Federal Decree Law No. 16 of 2018 concerning Federal Governmental Real Estate Properties.

The New Decree aims at developing the legislative environment, listing and managing the government properties that comprise real estate and non-real estate assets, and improving the use of those assets, either locally or internationally.

This legislation defines the federal real estate assets and shed light on the process of registering them as well as setting strategies for a better management of those assets that ensures better returns, as it permits their effective lease and use. It is worth mentioning that this New Decree establishes a registry for federal real estate properties, and sets mechanisms for coordination with relevant local authorities for asset recovery or transfer to local governments, not to forget the needs of federal entities in line with their functions and responsibilities.

The New Decree defines federal government assets that contain properties used for public services such as roads, bridges and railways. It also includes non-real estate federal and personal property which are not for public use, whether immovable or immovable, and addresses the intangible assets, recognizing them as properties belonging to the federation.

The New Decree also emphasizes the requirement to abide by the applicable local urban and building planning and regulations to ensure the best utilization of those real estate assets.
The New Decree will come into force on 28 March 2024.

The author of this alert is Essa Ziad Galadari.

Essa Galadari is a local advocate in the Firm’s Dispute Resolution department. He handles various legal domains including commercial litigation, criminal law, rental disputes, and execution matters. As a qualified Emirati lawyer Essa has in-depth knowledge of UAE laws and regulations of court procedures and has full rights of audience before the Dubai Courts and Federal courts in UAE.

For more information, please contact Essa directly:

Essa Ziad Galadari Advocate [email protected]