UAE real estate market needs alternative dispute resolution methods, says RICS | UAE real estate market needs alternative dispute resolution methods, says RICS -
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UAE real estate market needs alternative dispute resolution methods, says RICS

United Arab Emirates: Wednesday, October 03 - 2012 @ 16:43

The objective of this joint conference is to urgently tackle the cost, delay and difficulty, experienced by all parties involved in disputes in the UAE built environment sector. It marks the culmination of years of close relationship between RICS and the DLD which began with the signing of a formal Memorandum of Understanding between the two bodies.

Over the last two years, RICS has been working closely with major organisations in the sector to establish a specialist dispute resolution capacity. RICS has trained and accredited a panel of more than 40 internationally qualified mediators, arbitrators and adjudicators available to provide dispute resolution services in the region.

RICS appoints over 3,000 dispute resolvers a year, and this panel similarly will be managed centrally by RICS. All members of the panel are regulated by RICS and are obliged to comply with its stringent practice and ethical standards.

Dr John Fletcher, Director of RICS Alternative Dispute Resolution services worldwide, comments, “Apart from the obvious cost factor, there are many advantages to using arbitration and mediation as an alternative to the courts for dispute resolution in property and construction disputes. In particular, parties have a greater degree of freedom over the proceedings and timetables, and unlike court hearings, arbitration and mediation allow parties to resolve disputes in private and also choose their own arbitrator/mediator. As RICS sets, maintains and monitors high quality standards for our practitioners, we are able to guarantee that those who take on arbitration appointments are experts in the dispute resolution and regulated according to the highest international professional standards.”

Fletcher says, “Parties involved in a dispute should emerge either with a realistic and commercially viable settlement of the matter or at least a narrowing of the issues and a clear idea of how well their case would stack up if they carried on to court or arbitration. By doing this, the mediation process saves money and provides the parties with the best possible opportunity for setting a matter quickly. In addition, and importantly, it gives effect to the parties’ wider commercial interests rather than just the narrow legal issues involved in the dispute itself.”

“With RICS’ century-and-a-half of experience in the built environment, we specialise in offering expert dispute resolution services and training. Our approach to mediation is that the process needs to be commercially based, stringent and robust,” he adds.

Engineer Mohamad Khodr Al-Dah, Head of Taqyeem, Dubai Land Department, comments, “We are delighted to host our first joint conference with RICS that will shed the light on current challenges and innovative solutions in resolving real estate disputes. Cementing the partnership between DLD and RICS as well as Dubai Courts and the legal profession is essential for us to improve the dispute resolution process via all methods.”

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Wednesday, October 3- 2012 @ 16:43 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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