1,553 disputes resolved in H1 2024: ADREC Dispute Settlement Centre

ABU DHABI: The Abu Dhabi Real Estate Centre (ADREC), the custodian and regulator of Abu Dhabi's real estate sector, has announced that its Real Estate Dispute Settlement Centre mediated 1,553 real estate disputes in the first half of 2024, demonstrating its efficiency and commitment to maintaining stability in Abu Dhabi's real estate market. During this period, the Centre impressively resolved 1,553 out of 1,654 recorded disputes, achieving an outstanding completion rate of 94 percent. This success was facilitated through 4,692 mediation sessions, underscoring the Centre's unwavering commitment to providing effective and timely dispute resolution services. In a testament to the Centre's approach, 28 percent of these disputes were concluded amicably, valued at over AED1.54 billion, highlighting a strong commitment to peaceful and cooperative resolution methods. This emphasis on amicable solutions not only improves the dispute resolution experience but also significantly contributes to the overall growth of A bu Dhabi's real estate market. "The success we've witnessed in the first half of 2024 reflects our strategic vision in action,' said Rashed Al Omaira, Acting Director-General at ADREC. 'Our focus is on resolving disputes and simultaneously building a transparent and trustworthy real estate market. By prioritising amicable settlements, we are enhancing resilience and fostering an investor-friendly environment in Abu Dhabi.' Source : Emirates News Agency