Number of cases rose 22% in 2011
The real estate court considered 2,643 cases in the year 2011, including 1,394 brought forward from the previous year.
The court gave its verdict in 1,021 cases, or in 39 per cent of the new cases.
1,580 cases, or 60 per cent of the total, were taken forward to the year 2012.There were 42 pending cases, or one per cent of the total.
Seven per cent of the cases were decided within three months while verdicts were given in 18 per cent of the cases in four to six months.16 per cent of the cases were settled in seven to nine months. 11 per cent of the cases were decided in 10 to 12 months while 48 per cent of them took over a year to settle.
17 new cases with judicial claims of less than Dh100,00 were registered in 2011.
The number of cases heard by the real estate court was 27.
Pending cases involve judicial claims of less of Dh100,000.
However, Dubai has been promoting the alternative dispute resolution system in order to reduce the number of cases being filed in the real estate court.
In October, the Dubai Land Department ( DLD ) said it plans to set up a real estate arbitration centre to resolve property disputes.
The centre will work to impartially resolve property disputes and will hire internationally recognised real estate arbitrators.
Sultan Butti bin Mejren, director general of the Land Department, said: "The department has been promoting alternative dispute resolution for years now and has been resolving issues between developers and investors every single day.
"We [DLD] have the authority now to resolve disputes under the law. Since 2008, we have been meeting investors, developers and stakeholders, to mediate the issues and resolve them."
Emirates 24|7 reported earlier the DLD also plans to unveil Tanweer, an initiative that aims to minimise legal disputes and protect investors' rights.
Majida Ali Rashid, Chairwoman of the Center for Promotion and Management of Real Estate Investment, DLD , had said: "Tanweer is designed to enhance investors' confidence in the real estate market and act as a reference guide aimed at setting the frameworks and general principles of the rights and duties of real estate investors in order to ensure transparency and promote confidence in the market."
The prime objectives of the programme include contributing to the organisation of the real estate sector; encouraging and attracting local and international investors; enhancing the confidence of investors in real estate sector; ensuring transparency at all transaction stages (sale or purchase); providing an umbrella for the protection of investor rights; minimising legal disputes and contributing to improving the real estate sector and its reflection on the rest of the national economy's sectors.
? Emirates 24|7 2012
? Copyright Zawya. All Rights Reserved.
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