Management of Federal Properties

A new law is issued by UAE government regarding the management of federal properties. MOF or Ministry of Finance has introduced this new law where objective is to maximize 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 in to effect on 28^th March 2024, and it will be replacing the previous law which came in 2018. This law which came in 2018 was about federal real estates 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 federal government, known as Federal Decree Law No 35 of 2023. These properties can be Roads, Public Buildings, Bridges, Government Places etc. Apart from these, all other moveable government properties are also under this law. Same Federal Decree No 35 of 2023, is going to be implemented for the improved management and utilization of these government’s moveable 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 a very latest and 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 that there has been no safety and protection in the past. But United Arab Emirates’ government puts special emphasize on organizing all the public and private entities in UAE. It removes all the doubts, 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 the 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 while transferring the assets to government (Local Government).
• It also throws light on leasing principals, the latest requirements, and how to work with the local authorities.
• New laws also emphasize on the 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 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 details. Sometimes the client wants to understand a specific part of the law or interested to find out the comparison. Our Law Firm is an established Law Company where a team of most professional and reliable advocates and legal consultants, helping the individuals living in UAE and the businesses operating in UAE. Law Firm offer legal services all over the UAE including ABU DHABI, Al Ain, Ajman, RAK etc.