Local UAE law firm The Legal Group has appointed former Bangash Holdings in house counsel Ammad Naser as its head of real estate.
Naser specialises in legislative and regulatory issues for investors, owners and developers, and advises particularly on the 2007 Jointly Owned Property Law or Strata Law. He advises owners associations and managers on mixed use, sub division, acquisition, sale and compliance with Strata legislation. In addition, he advises on portfolio management, acquisitions and sales, contract drafting, and negotiation.
The Strata law was introduced by property regulators to shift the control of developments from developers to homeowners in late 2007, and relates to the management of common property and shared facilities, such as parking, roadways and gardens. Under the law, an association of owners should be established as a regulatory framework to maintain the quality of the shared facilities environment of any development.
“We are delighted that Ammad has joined us to head the TLG real estate team. The Strata legislation has strengthened investor and purchaser confidence in the Dubai real estate market, and given owners a real stake in the management of their buildings. Ammad will be advising our investor and developer clients on both the advantages and on compliance with Strata laws,” said TLG managing partner Fareya Azfar. ALB
Shaheen Pasha is Middle East Regional Editor at ALB. Follow her on Twitter: @ALB_TheBrief.
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