Management of Federal Properties

A new law has been issued by the UAE government regarding the management of federal properties. MOF or Ministry of Finance has introduced this new law, whose objective is to maximise the management and the utility of properties. This new law and improved management are for both types of properties e.g. “Real Estate Assets” as well as “Non-Real Estate assets”. This new law will come into effect on 28^th March 2024, and it will replace the previous law, which came in 2018. This law, which came into effect in 2018, was about federal real estate known as Federal Decree Law No 16 of 2018. We will discuss its core features, its objectives and the benefits.

• This new Federal Law is applicable to all the properties which are owned by the federal government, known as Federal Decree Law No 35 of 2023. These properties can be Roads, bridges, government places, Government Places etc. Apart from these, all other movable government properties are also under this law. The same Federal Decree No 35 of 2023 is going to be implemented for the improved management and utilisation of the government’s movable and immovable properties. It will be implemented on 28^th March 2024(14 days later).
• The objective of the new law is to build up the latest and most modern electronic plan of action to record the federal estate properties in an appropriate way, which is better than before. This way the federal state properties can be managed and protected in a better way. It is not like there has been no safety and protection in the past. But the United Arab Emirates’ government puts special emphasis on organising all the public and private entities in the UAE. It removes all the doubts and ambiguities while using and managing the asset. It helps to increase the government’s return, benefits, and earnings as well.
• The new law is also helpful while managing the private federal properties, non-real estate in nature. It throws light on how assets should be maintained, sold, bought, used, or taken from another entity.
• It also helps while creating the registry of federal properties. The law also helps in transferring the assets to the government (Local Government).
• It also throws light on leasing principles, the latest requirements, and how to work with the local authorities.
• New laws also emphasise urban planning, rules and regulation and how to increase the utility of these federal assets.
• New Law is developed for good services and support. This way, the federal government can better manage the resources. The objective is to improve the management of government assets. It supports the sustainable management techniques.
• It also helps to increase the global credit ratings of the UAE. It also helps to shift to a digital system. It will also enhance the transparency.

Emirati Lawyers and Legal Consultants at Al Shaiba Advocates and Legal Consultants are the top-performing attorneys in DUBAI. The team of advocates here do have the professional experience of more than two decades. Emirati Advocates at this Law Firm can be hired to understand this new Law in much detail. Sometimes the client wants to understand a specific part of the law or is interested in finding out the comparison. Our Law Firm is an established Law Company where a team of the most professional and reliable advocates and legal consultants, helping individuals living in the UAE and the businesses operating in Uthe AE. Law Firm offer legal services all over the UAE, including ABU DHABI, Al Ain, Ajman, RAK etc.

The introduction of Federal Decree Law No. 35 of 2023 also reflects the UAE government’s commitment to governance and financial sustainability. Government authorities ensure that all resources are used to the maximum. It ensures operational efficiency across various sectors. The new law especially emhasis on periodic assessment. Government entities are responsible for asset management. It ensures that assets can be redeveloped for public benefits. It ensures that all agreements are made in compliance with federal UAE laws.

The law strengthens oversight and accountability within federal institutions. Every entity is managing federal properties to maintain accurate records. This creates a system of checks and balances that minimises risks of mismanagement. It also focuses on preserving the federal properties’ value with the passage of time. The law supports technology for asset management. The adoption of such systems aligns with the UAE’s vision of smart governance. It also increases digital transformation in the UAE. Overall, the new laws create an organised system for managing federal properties. The new laws support sustainable development. You can book a legal appointment with our experts and explore more.