Abu Dhabi, UAE: ADGM, the leading international financial centre in the region, has announced enhancements to its Real Property Regulations, introduced new off-plan development regulations and launched a unified digital platform, AccessRP, following its strategic expansions to Al Reem Island.

The new regulatory framework and the digital platform aim to support the growth and innovation in the real estate sector and reinforce ADGM’s global position as a business-friendly real estate environment, as well as a reliable and attractive destination for global and local investors.

Both will drive digital transformation, and the platform will provide a full range of unified real estate services, including transaction services and other integrated services for developers and property owners, with the aim of enhancing the customer experience and easing real estate procedures within ADGM’s jurisdiction.   

ADGM has introduced enhancements to the regulatory framework in alignment with English Common Law and best onshore practices in the region. This new framework is designed to ensure transparency and flexibility while strengthening compliance and safeguarding all stakeholder interests including:

  • Regulatory legislation for short-term residential leases;
  • Enhanced legislation for off-plan development, off-plan sales and escrow arrangements; and
  • A new registration framework for real property and professionals such as brokers, valuers and property managers.
  • Al Reem Island Transitional Provision;

The revamped regulatory framework serves as the foundation for AccessRP, which provides a comprehensive range of real estate services including:

  • Real Estate transaction services: buy and sell, off-plan sales, leasing, and mortgage services.
  • New Developer services: off-plan development, project registration and project account management.
  • Owner services: certificate issuance of certificates and Power of Attorney registrations.

Hamad Sayah Al Mazrouei, CEO of the Registration Authority (RA) of ADGM, commented: "The new enhancements to the real estate regulatory legislation and the digital platform will help to attract local and foreign investments to ADGM as the preferred destination to live, work and invest, and will pave the way for a new phase of growth, prosperity and development in the real estate sector. In addition, the unified digital real estate platform will enhance the customer journey and facilitate a smooth transition for companies and beneficiaries of real estate services and integrate them into ADGM’s ecosystem.”

I would like to reiterate our continued commitment to ensuring a smooth and seamless transition for businesses on Al Reem Island while elevating the standards of real estate regulation in the region and strengthening ADGM’s position as a leading international financial centre in the region."

To view the full document on the enhancements introduced to the Real Property framework and the new Off Plan Development Regulations, please click on:

About ADGM

ADGM is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world.

Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island collectively designated as the financial free zone of Abu Dhabi.

ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions whilst leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse, and progressively governed financial hubs.

For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adgm and LinkedIn: @ ADGM

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