Construction Law in the UAE, Lawyer Monthly

Despite the recent economic difficulties, the UAE has recently seen a number of key deals announced, including the government of Saudi Arabia having signed a hefty contract with Saudi-Spanish consortium to develop phase II of the Haramain High Speed Rail Project in Saudi Arabia. To find out more about the construction industry in the UAE and the legal issues that surround it, Lawyer Monthly speaks with Afridi & Angell’s partner; Shahram Safai.

Dubai’s Real Estate Sector on the Road to Recovery, Lawyer Monthly

Dubai’s real estate sector is on the road to recovery. Dubai is a country built on tourism, renowned worldwide for its lavish hotels and luxurious resorts. Naturally, construction and real estate are very popular sectors in such a country. When the recession hit the UAE, Dubai’s real estate industry suffered and investment declined at an alarming rate, leaving the country in a slump. In late 2009 it was revealed that Dubai had $20 billion worth of debt. The global downturn also left Dubai unable to offload some of the most extravagant real estate units, with 2010 witnessing a 5 percent drop in the property sector.