UAE Cabinet Approves New Tenancy Policies to Enhance Financial Environment

UAE, 16 August, 2024 : The UAE Cabinet has recently adopted new tenancy policies aimed at enhancing the legislative environment and supporting sustainable government financial operations. His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, emphasized that these policies will help elevate the financial business environment in the UAE.

The newly approved policies standardize tenancy terms and procedures within the federal government, offering a clear framework for leasing and renting agreements. They outline rules to govern relationships between landlords and tenants of federal properties across the emirates.

The Ministry of Finance, responsible for managing federal properties, has developed these policies in alignment with Federal Decree-Law No. 35 of 2023, which focuses on optimizing property management. The guidelines are intended to ensure consistent application of tenancy procedures, reduce ambiguities in lease agreements, and clearly define responsibilities.

The policies cover various aspects such as property types, tenant categories, and leasing procedures, applying to a wide range of government-owned real estate. The initiative is expected to contribute to a more structured and transparent property management system across the UAE's federal entities.

Source : www.mof.gov.ae