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Time of India
21-07-2025
- Business
- Time of India
Dubai passes new law to help resolve Emirati housing disputes faster and protect family stability
The new law creates a specialised branch within Dubai Courts to handle Emirati housing disputes through mediation and expert adjudication/ Representative image TL;DR: Dubai has introduced the Housing Dispute Settlement Law to speed up resolution of homebuilding conflicts. The law sets clear timelines for mediation and adjudication to avoid construction delays. A specialised committee will handle unresolved cases quickly and fairly. The law aims to protect Emirati families and support stable, high-quality housing development. A Legislative Push Rooted in Citizen Wellbeing In a move widely seen as a reflection of Dubai's leadership vision for family stability and quality of life, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a new law to resolve disputes arising from citizen housing construction contracts. More than a legal update, this initiative forms part of an evolving policy framework aimed at supporting Emiratis through streamlined housing processes, alternative dispute resolution, and institutional efficiency. The law, formally announced by Dubai's top government authorities, creates a dedicated mechanism to expedite the resolution of contract disputes between Emirati citizens and housing contractors or consultants. Its ultimate goal is to protect family interests, prevent project delays, and uphold housing quality and timelines. This latest legislation builds on Sheikh Mohammed's wider housing agenda. In January, he approved a Dh5.4 billion ($1.47 billion) plan to construct 30,000 housing units for young Emirati families. In March, the 'Home First' initiative was launched by Dubai Municipality to reduce bureaucracy in residential planning and improve housing services. The new law extends that vision, embedding legal structure into housing delivery systems and ensuring that Emiratis are shielded from procedural uncertainty and financial risk when building homes. A Timely System to Prevent Construction Delays At the heart of the legislation is a structured, two-stage process designed to settle disputes quickly and equitably. Under the new system, a specialised branch will be established within Dubai Courts' Centre for Amicable Settlement of Disputes. The branch will handle all disputes related to citizen housing construction contracts. Here's how the process works: Mediation Phase: Disputes will first be directed to a mediation panel, which must reach a settlement within 20 days, extendable by mutual consent for another 20 days. Adjudication Phase: If mediation fails, a committee comprising a judge and two subject-matter specialists will issue a ruling within 30 days, also extendable by decision of the committee head. Right to Appeal: Any party may appeal the committee's decision to the Court of First Instance within 30 days of issuance. The law will officially take effect on January 1, 2026, allowing stakeholders time to adapt to the procedural changes and institutions to scale up for implementation. A Collaborative Approach Backed by Dubai Leadership Top Dubai officials lauded the law, noting its potential to both protect citizens' rights and enhance Dubai's legal infrastructure. His Excellency Prof. Saif Ghanem Al Suwaidi, Director General of Dubai Courts, stated: 'The law for settling disputes arising from the execution of citizen house building contracts reflects Dubai Courts' ongoing commitment to enhancing the efficiency of the judicial system and ensuring all parties have access to swift justice.' He emphasised that the new law supports the goals of the 'Year of Community', an initiative aimed at fostering collaboration and societal solidarity, and aligns closely with Dubai Social Agenda 33, which prioritises citizen happiness and sustainable development. 'By expediting the resolution of building contract disputes and ensuring projects adhere to agreed-upon specifications and timelines, the law contributes to the stability of Emirati families,' Al Suwaidi added. Infrastructure and Judicial Readiness to Support Citizens From an urban development standpoint, the law is expected to reinforce housing sector confidence by clarifying roles and responsibilities among stakeholders. His Excellency Engineer Marwan Ahmed bin Ghalita, Director General of Dubai Municipality, called the legislation: 'A significant step towards strengthening Dubai's housing sector. It underscores the leadership's commitment to ensuring a high quality of life for its citizens.' He highlighted that the law would serve as a tool to: Streamline contractual relationships between citizens, contractors, and consultants Ensure housing project sustainability Mitigate risks associated with construction-related disputes Enhance citizen satisfaction and family stability His Excellency Prof. Abdullah Saif Al-Sabousi, Secretary-General of the Dubai Judicial Council, further described the law as: 'A valuable addition to Dubai's judicial system, as it reflects the strategic focus on strengthening alternative dispute resolution mechanisms, ensuring swift and efficient justice.' He praised the law's provision to establish a specialised branch for the Centre for Amicable Settlement of Disputes, saying: 'This represents an advanced model for resolving disputes amicably and effectively without resorting directly to litigation. Highly qualified specialised personnel will be available to ensure the speed and quality of procedures, serving the public interest and fulfilling citizens' aspirations for a secure and stable housing environment.' In essence, the law is a decisive step to ensure that Emiratis are not left in limbo due to legal bottlenecks or unresolved disputes when building their homes. It ensures that citizens who invest in family housing will be met with legal clarity, timely support, and a dedicated mechanism to resolve conflict without halting construction. FAQs: Q: What is the Housing Dispute Settlement Law about? It's a new law to resolve problems in citizen home building contracts quickly and fairly. Q: How are disputes resolved under the new law? First through mediation, then by a committee of a judge and two experts if needed. Q: When does the law come into effect? It will be effective starting January 1, 2026. Q: Who will manage the dispute resolution process? A new branch under Dubai Courts will oversee mediation and adjudication through trained experts.
Time of India
16-06-2025
- Business
- Time of India
Top stocks to buy: Stock recommendations for the week starting June 16, 2025
Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting June 16, 2025) are Home First Finance and Kaynes. Let's take a look: Stock Name CMP (Rs) Target (Rs) Upside (%) Home First Finance 1268 1500 18% KAYNES 5478 7300 33% Home First Finance HomeFirst, with 155 branches across 13 states, is sharpening its focus on emerging states with strong infra growth. Technology remains its key differentiator, with 50%+ of sourcing now fully digital and ~75% Account Aggregator penetration as of FY25. Having recently received a credit rating upgrade from both ICRA and India Ratings, coupled with the 50bps repo rate cut by the RBI, HomeFirst is expected to lower its cost of borrowing while supporting NIM expansion. Its strong fundamentals, healthy return ratios, and superior execution reinforce its position as a top Affordable Housing Fin. franchise. We estimate a 30% PAT CAGR over FY25-27E, driven by a proven model and a seasoned, transparent leadership. Kaynes Kaynes Technologies is expanding across EMS, HDI PCB manufacturing, and OSAT, targeting high-tech, high-margin segments. It aims to achieve USD 1 billion revenue by FY28, supported by strong orders in automotive, aerospace, industrial, and medical sectors, along with strategic North American acquisitions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo HDI PCB and OSAT units are expected to commercialize by 4QFY26, targeting INR25b revenue in FY27 and INR50b by FY28, with robust margins (~30%/20%). FY25 revenue rose 51% YoY to INR27b, slightly below guidance due to railway order delays. We estimate revenue/EBITDA/PAT CAGR of 57%/61%/70% over FY25–27, driven by scale and margin gains. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
12-06-2025
- Business
- Economic Times
I-Sec downgrades Home First to Add; target price Rs 1,375
Home First's key products/revenue segments include Interest, Income From Financial Services, Income From Sale Of Share & Securities, Fees & Commission Income and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Standalone Total Income of Rs 416.19 crore, up 2.15% from last quarter Total Income of Rs 407.45 crore and up 30.98% from last year same quarter Total Income of Rs 317.75 crore. The company has reported net profit after tax of Rs 104.69 crore in the latest quarter. The company's top management includes Satwalekar, Viswanathan, Mukherjee, Ostawal, Dutta Goel, Srivastava, Sehgal, Singh Juneja. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 9 Crore shares outstanding. Live Events Investment Rationale (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has downgraded Home First Finance Company India to Add from Buy with a target price of Rs 1,375. The current market price of Home First is Rs 1266. Home First Finance Company, incorporated in 2010, is a Small Cap company with a market cap of Rs 13266.40 crore, operating in the NBFC First's key products/revenue segments include Interest, Income From Financial Services, Income From Sale Of Share & Securities, Fees & Commission Income and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Standalone Total Income of Rs 416.19 crore, up 2.15% from last quarter Total Income of Rs 407.45 crore and up 30.98% from last year same quarter Total Income of Rs 317.75 crore. The company has reported net profit after tax of Rs 104.69 crore in the latest company's top management includes Satwalekar, Viswanathan, Mukherjee, Ostawal, Dutta Goel, Srivastava, Sehgal, Singh Juneja. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 9 Crore shares First Finance (Home First), in its FY25 annual report themed 'Home as the Foundation for Change', highlighted that it has built a strong base during its decade-long journey as a housing financier by challenging status quo (tech-led solution to informal segment) and is now ready to accelerate its growth journey. While it took 14 years to reach an AUM of ~Rs 100bn, it now intends to add INR 100bn in three years and achieve an AUM of Rs 200 billion by FY27, and add another Rs 150 billion in next 3 years to reach AUM of Rs 350 billion by FY30. This implies CAGR of >20% until FY30. MP (49% AUM CAGR FY20-25), UP(54%), RJ (35%), AP (72%) and Telangana (44%) may be near-term growth markets. Given the recent run-up in stock price (up 13% in 1M), ICICI Securities has downgraded it to ADD (from Buy) with an unchanged target price of Rs 1,375. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Time of India
12-06-2025
- Business
- Time of India
I-Sec downgrades Home First to Add; target price Rs 1,375
ICICI Securities has revised its rating for Home First Finance. The stock is now rated as 'Add' instead of 'Buy'. The target price remains at Rs 1,375. Home First aims for substantial AUM growth by FY30. They plan to reach Rs 200 billion by FY27 and Rs 350 billion by FY30. Tired of too many ads? Remove Ads (Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.)
Gulf Insider
18-03-2025
- Business
- Gulf Insider
Dubai Sets Rules for Home Extensions and Added Living Space
Dubai Municipality has announced new planning rules to allow home extensions and adding living space to homes in the emirate. In line with the 'Year of Community' announced by UAE President Sheikh Mohamed bin Zayed Al Nahyan, Dubai Municipality launched the 'Home First' initiative to enhance housing facilities for Emirati families. The initiative introduces a comprehensive set of urban planning amendments designed to strengthen family stability, foster social cohesion, and improve quality of life for Emirati families. 'Home First' also supports the Sheikha Hind bint Maktoum Family Programme, which was established by Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The programme aims to strengthen family bonds, promote social values, and create a sustainable residential environment that meets the evolving needs of Emirati families. As part of the initiative, Dubai Municipality has updated the Dubai Building Code to introduce greater flexibility in residential planning, enabling Emirati citizens to tailor their homes to meet their social and family needs. The new regulations allow the construction of a side family annex before the main villa, offering additional living spaces such as bedrooms, living rooms, and kitchens. Emirati homeowners can also build a separate villa for a son within the existing family property, ensuring efficient space utilisation and privacy while maintaining strong family ties. The initiative allows families to expand their villas with a full 100 per cent extension on the second floor. Setback regulations have also been revised, reducing the minimum setback for villas to 1.5m and introducing an additional 1.5m setback for rooftop floors across all construction boundaries. Additionally, setbacks between service annexes and the main villa have been removed, with the updated regulations permitting service annexes to reach a height of up to eight metres across two floors. Townhouses can now be built adjacent to each other across two plots, improving urban planning efficiency while ensuring architectural harmony. Marwan Ahmed bin Ghalita, Acting Director-General of Dubai Municipality, said: 'The Home First initiative reinforces Dubai Municipality's commitment to a flexible and sustainable urban planning framework that supports family well-being and community stability. 'These new allowances provide Emirati families with adaptable housing facilities that meet their evolving needs while upholding Dubai's high architectural standards. 'The initiative aligns with the goals of the Dubai Social Agenda 33, which aims to position Dubai as the world's best city for living, housing services, and community well-being. 'By implementing these measures, we are fostering a dignified and inclusive living experience that enhances the happiness and prosperity of all citizens.' Dubai Municipality invites Emirati citizens to explore the initiative's benefits by visiting its official website for detailed information on the required documentation or contacting its call centre at 800 900. Dubai Municipality remains committed to continuously enhancing construction-related services, regulations, and building codes while overseeing licensing, construction activities, and strategic urban planning. These efforts support the development of a smart, sustainable, and globally competitive construction sector, ensuring the highest quality of life in line with international urban planning and sustainability standards in the emirate. Also read: Dubai Hosts First Ever International Sports Entertainment Free Zone Cluster
