Real Estate, Construction and Hotels & Leisure - Law Update: Issue 349 - Real Estate, Construction and Hotels & Leisure

Real Estate, Construction and Hotels & LeisureLaw Update: Issue 349This Law Update edition provides vital insights on the latest trends taking shape across the real estate, construction, hotels and leisure sectors in MENA.Contents

Welcome to this
month’s Law Update

Governments across the Middle East region have consistently put in place strategies that have aided the diversification of regional economies. The ambition to eliminate economic reliance on oil and gas remains part of the region’s evolution, and as it continues on its journey the legal and commercial landscape has transformed into an attractive destination for foreign investments across a number of sectors. In fact, foreign direct investments (FDI) are considered an important measure of growth and diversification, and the United Arab Emirates was ranked 19th on a list of the worlds’ largest FDI recipient countries (according to the UN Conference on Trade and Development’s latest report).

Sectors such as hospitality, healthcare, business and financial services, retail, technology, media and telecommunications, to name a few, have formed the bedrock that leads the region on its drive to diversify. Moreover, the region boasts fewer barriers of entry and a favourable business environment, making it an investment opportunity that cannot be overlooked. There are a cluster of sectors that have led the way and supported the development of our modern cities, which in turn have attracted commerce and tourism to our region. I am referring to - real estate, construction, and hotels and leisure, as these four areas continue to form vital pillars that underpin the region’s diversifying economies.

With these sectors being important economic drivers, this edition of Law Update focuses on bringing you insights and commentary that provides updates on the latest trends taking shape across the real estate, construction, hotels and leisure industries. The articles within this edition cover a broad range of jurisdictions, for example; what’s next for real estate in Dubai, the real estate scene in Saudi Arabia and how the Saudi Vision 2030 is changing things, reforming real estate laws in Qatar, foreign investment and ownership in Oman, and our lawyers highlight the latest amendments to the Management of Owners Associations in Bahrain. In addition, articles explore the mitigating risks on hotel construction projects and the lessons learnt from Covid.

Outside the focus pages we have several articles that cover a number of pertinent topics, for example; IPO and listings from a UAE perspective, how Qatar has taken a significant step for investors by establishing the Investment and Commerce Court, and we highlight the key distinctions of the Oman Commercial Arbitration Centre’s rules. Finally, we continue to share with you real life judgements that provide context to the legal landscape across the region.

As you can tell, this edition is full of insightful articles that give you regulatory and practical perspectives. I hope that you enjoy this issue and should you have any comments or questions, please do not hesitate to reach out me or any of the lawyers that have contributed.