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Dubai dissolves special tribunal for settling disputes with home lenders issacjohn@khaleejtimes.com Filed on May 17, 2021
The new decree annuls Decree No. (61) of 2009 and any other legislation that contradicts or challenges its articles. The decree is active from its date of issuance and will be published in the official gazette. File photo
The special tribunal was formed in 2009 after the global financial crisis over a decade ago to settle disputes related to mortgage firms Amlak Finance and Tamweel.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, on Monday dissolved by decree a special tribunal for settling disputes with real estate lenders.
In most cases, a contract will state that the property has to be returned in the same condition as it was when the tenant moved in. This might include painting, decorating and cleaning. The fact that they are requesting Dh500 could be due to this.
I believe the landlord will not file a case against you, instead preferring to retain your deposit to fund maintenance or redecorating costs to restore the property to its original condition.
My landlord wishes to increase my rent by 5 per cent to Dh105,000. I tried to use the Real Estate Regulatory Agency’s online rent calculator to check if this is permitted. However, it will only allow me to input Dh99,999 instead of Dh100,000. The Dh99,000 amount shows no rental increase is permitted.
We repeatedly asked her to give us her mailing address to send the notice. However, she didn’t comply and instead took our mailing address from the legal notice we e-mailed her and sent us an eviction notice.
Due to a lack of funds, we are unable to take any further steps on this issue, but we did manage to make the key submission request even though she rejected that as well.
My husband was hospitalised for two weeks because of this stress. How can we get out of this situation?
DD, Dubai
I’m sorry to hear of your plight. I’m sure it cannot be easy dealing with a landlord who is neither compassionate nor listening to your requests.
Head of Investor Relations
Greetings. I am Park Cheol Woo, in charge of IR. It is now April with beautiful spring weather. Thank you, everyone, for participating in today s earnings release.
And from now on, we will begin the 2021 Q1 business results presentation. From this quarter s earnings release, we are holding it earlier in the day so that the market can analyze our performance in more detail. We would like to ask institutional investors and individual investors for your keen interest.
We have here with us at the earnings presentation our CFO, Roh Yong-Hoon; CMO, Heo Young-Taeg; CSSO, Park Sung-Hyun; and CRO, Bang Dong-Kwon. First, CFO, Roh Yong-Hoon, will walk us through the 2021 Q1 business results and then engage in a Q&A session with you.