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Dubai's Condominium Law relates to the management of common property and shared facilities such as parking, lifts, pools, roadways etc. Investors in Dubai condominiums have been somewhat sceptical as there has been a lack of clear demarcation in responsibility for common areas and this is one of the issues addressed under the new Dubai Condominium Law.

Under the new regulations, Dubai condominiums are required to establish an association after the first unit of the development is sold, which will comprise all unit owners together with the master developer. The Owners Association of a Dubai condominium will be responsible for the maintenance of shared facilities, improve the quality of life of the residents and contribute towards the city’s environment. Condominium owners in Dubai have to pay their share of the maintenance as an annual fee; however owners of Dubai condominiums welcome the fact that they now have control over budgets.

Commenting on the new law, Peter Crogan, Chief Executive Officer of the UAE-based BCS - Strata Management Services, said. "Proper regulations are integral to keeping the market vibrant and with healthy inflows of foreign investment…This law has been eagerly awaited and now it is announced, Dubai will see a lot of short, medium and long term benefits."

Dubai condominiums and condo hotels are much sought after by global investors. Dubai condominiums are considerably cheaper than equivalents in large western cities such as New York or London. Yet an investment in a Dubai condominium provides many attractions such as cosmopolitan culture, pleasant weather through a large part of the year, fabulous beaches and superb recreational facilities. For investors worldwide, now a positive legal framework is being created to make property investments in Dubai condominiums even more attractive.

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