Executive Council Resolution No. (36) of 2024

Forming the

Real Estate Investment Funds Committee[1]

ــــــــــــــــــــــــــــــــــــــــ

We, Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council,

After perusal of:

Law No. (7) of 2013 Concerning the Land Department;

Law No. (26) of 2023 Concerning the Executive Council of the Emirate of Dubai;

Decree No. (22) of 2022 Approving the Grant of Privileges to Real Estate Investment Funds in the Emirate of Dubai; and

Decree No. (1) of 2023 Concerning Governance of the Councils/ Boards and Committees Affiliated to the Government of Dubai,

Do hereby issue this Resolution.

©2024 The Supreme Legislation Committee in the Emirate of Dubai

[1]Every effort has been made to produce an accurate and complete English version of this legislation. However, for the purpose of its interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text will prevail.

Formation of the REIFC

Article (1)

The Real Estate Investment Funds Committee (the “REIFC”) is hereby formed under the chairmanship of Mr. Majid Saqr Abdullah Al Marri, and with the membership of:

1. Mr. Hadi Mohammed Taher Badri, as vice chairman;
2. Dr. Abdullah Mohammed Al Saigh Al Ghafri, as Member;
3. Mr. Khalifa Ahmed Rabaa Al Shehhi, as Member;
4. Mr. Abdulla Yaqoob Sayed Ahmed Al Hashimi, as Member;
5. Mrs. Mariam Obaid Humaid Al Muhairi, as Member; and
6. Mr. Hussain Mohammed Al Banna, as Member.

Governance of the REIFC

Article (2)

The provisions of the above-mentioned Decree No. (1) of 2023 and the resolutions issued in pursuance thereof apply to all matters related to the governance of the REIFC; the procedures for convening its meetings and passing its resolutions and recommendations; the confidentiality of information; and the obligations and duties of the Chairman, Members, and Rapporteur of the REIFC.

Periodic Reports

Article (3)

The Chairman of the REIFC will submit periodic reports to the Executive Council on the outcomes of the REIFC’s work.

Providing Administrative Support

Article (4)

The Land Department will provide administrative and technical support to the REIFC to enable it to perform its functions under the above-mentioned Decree No. (22) of 2022, the resolutions issued in pursuance thereof, and other legislation in force in the Emirate of Dubai.

Cooperation with the REIFC

Article (5)

All Government Entities in the Emirate of Dubai must fully cooperate with the REIFC and its sub-committees and work teams; and must provide the REIFC with the data, information, documents, statistics, and studies it requests and deems necessary to enable it to exercise its duties and functions under the above-mentioned Decree No. (22) of 2022, the resolutions issued in pursuance thereof, and other legislation in force in the Emirate.

Issuing Implementing Resolutions

Article (6)

The Chairman of the REIFC will issue the resolutions required for the implementation of the provisions of this Resolution.

Commencement and Publication

Article (7)

This Resolution comes into force on the day on which it is issued, and will be published in the Official Gazette.

Hamdan bin Mohammed bin Rashid Al Maktoum

Crown Prince of Dubai

Chairman of the Executive Council

Issued in Dubai on 13 June 2024

Corresponding to 7 Thu al-Hijjah 1445 A.H.