With the issuance of the new Shared Housing Law in Dubai, the emirate's rental market enters a new era of regulation based on clear controls. The law, issued on March 12 of this year, aims to address existing challenges in the market, primarily by regulating the management of residential properties designated for shared housing and eradicating the phenomenon of overcrowding and chaotic congestion. The law also works to mitigate risks and security challenges, combat violations related to construction and land use, and elevate the shared housing system by providing a suitable living environment for various community segments in the emirate. This contributes to improving the quality of the housing supply and protecting the rights of all parties. Real estate experts confirmed that the law aims to transform shared housing from a 'temporary solution' into a modern lifestyle that aligns with the general lifestyle adopted in Dubai. It will also dry up the sources of informal subletting, which has significantly impacted residential areas, especially family-oriented ones. They noted that the housing market will witness a major transformation with improved property management and regulation, and the provision of diverse housing options suitable for different segments of society. Ismail Hammadi, Founder and CEO of 'Bizent Consulting,' a company specializing in property management and development in Dubai, stated that 'the law will redefine the concept of shared housing to become an organized and safe investment sector.' He added that the law will directly help alleviate pressure on infrastructure in congested areas like Deira, Bur Dubai, Jumeirah Village Circle, Al Nahda, Al Barsha, and DubaiLand, which suffer from high population density and a rise in subletting residential units for shared housing. Hammadi explained that the law mandates the registration of all contracts on a unified digital platform managed by Dubai Municipality and the periodic issuance of a 'Rental Index for Units Designated for Shared Housing,' which will eliminate pricing irregularities and bring more transparency to the rental market. He also noted that the real estate development market will take this law into account in new projects, and new specialized management companies for shared housing will emerge. Abdul Karim Al Mulla, CEO of 'Standard Property Management,' stated that the 'Shared Housing Law will bring a major transformation to the emirate's housing market, improving property management and regulation, and providing diverse housing options suitable for various community segments, including low-income groups, within frameworks that consider public health and safety and limit overcrowding.' He clarified that the law not only protects the rights of tenants and landlords but also contributes to boosting the tourism sector, regulating traffic flow, and advancing the emirate socially, economically, and legislatively, thereby outlining new features for Dubai's rental market. Mohammed Turki, Property Manager at 'Al Waleed Real Estate Group,' confirmed that the law 'will achieve a clear positive impact on regulation and the living environment by ensuring safe and healthy buildings for residents.' He pointed out that the law determines the number of residents per apartment based on its area, which helps reduce overcrowding and provide a comfortable and safe living environment. Turki added that the law will lead to an upgrade in the quality of apartments licensed for shared housing and improve standards of security, hygiene, and periodic inspection. He predicted that the law will positively impact property owners by helping them maintain their units and adhere to safety and health standards, thereby enhancing the sustainability and safety of buildings.
