Commercial Real Estate Contract

Commercial Real Estate Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Commercial Real Estate Contract for the purchase of a 5,000 square meter warehouse facility in Dubai Industrial City, with completion scheduled for March 2025 and including specific provisions for industrial storage use and environmental compliance."

Document background

The Commercial Real Estate Contract is a fundamental legal instrument used in the United Arab Emirates for facilitating commercial property transactions. This document is essential when parties wish to enter into a legally binding agreement for the sale, purchase, or lease of commercial real estate within the UAE jurisdiction. It incorporates critical elements required by UAE federal laws, emirate-specific regulations, and relevant property registration authorities. The contract addresses various aspects including property details, payment terms, conditions precedent, warranties, and obligations of all parties involved. It is specifically designed to comply with UAE real estate laws, including Federal Law No. 5 of 1985 (Civil Code) and relevant emirate-level property laws, while also considering local commercial practices and Sharia principles. This document is particularly important as it serves as the primary reference point for the rights and obligations of all parties involved in commercial real estate transactions within the UAE.

Suggested Sections

1. Parties: Identification of the seller/landlord and buyer/tenant, including full legal names, license numbers, and authorized representatives

2. Background: Context of the transaction, property overview, and purpose of the agreement

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including location, size, boundaries, and registration details as per UAE land department requirements

5. Transaction Terms: Core commercial terms including price/rent, payment terms, and payment schedule

6. Warranties and Representations: Statements and guarantees from both parties regarding their capacity, authority, and property condition

7. Completion and Registration: Process and requirements for completing the transaction and registering with relevant authorities

8. Handover Provisions: Terms and conditions for property handover, including condition requirements and inspection procedures

9. Maintenance and Repairs: Responsibilities of each party regarding property maintenance and repairs

10. Insurance Requirements: Mandatory insurance coverage and responsibilities of each party

11. Default and Remedies: Consequences of breach and available remedies under UAE law

12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction of UAE courts

13. Notices: Process and requirements for formal communications between parties

14. Execution: Signature requirements and execution formalities as per UAE law

Optional Sections

1. Fit-out Works: Details of any permitted modifications or improvements to the property, relevant for properties requiring customization

2. Service Charges: Breakdown of service charges and building maintenance fees, particularly relevant for properties in managed developments

3. Usage Restrictions: Specific limitations on property use, particularly relevant for specialized commercial purposes

4. Environmental Compliance: Environmental obligations and certifications, relevant for industrial or specialized commercial properties

5. Assignment and Subletting: Terms for transferring rights or subletting, if permitted

6. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

7. Parking Allocation: Details of parking rights and restrictions, relevant for properties in commercial districts

8. Utilities and Services: Arrangements for utility connections and service provisions

9. Operating Hours: Restrictions on business operating hours, relevant for retail or certain commercial uses

10. Signage Rights: Terms regarding external signage and branding rights

Suggested Schedules

1. Property Plan: Detailed floor plans, area calculations, and property boundaries

2. Title Documents: Copy of title deed and other ownership documentation

3. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates

4. Handover Checklist: Itemized list of property condition requirements and inspection criteria

5. Building Rules and Regulations: Applicable building rules, including access times and common area usage

6. Permitted Use Schedule: Detailed description of allowed commercial activities and any restrictions

7. Service Level Agreement: Details of building services and maintenance standards

8. Required Licenses: List of mandatory licenses and permits for property operation

9. Insurance Requirements: Detailed insurance specifications and minimum coverage requirements

10. Utility Specifications: Technical specifications for utility connections and capacity

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Retail

Hospitality

Healthcare

Manufacturing

Education

Professional Services

Banking and Financial Services

Technology

Logistics and Warehousing

Entertainment and Leisure

Food and Beverage

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Operations

Compliance

Risk Management

Property Management

Business Development

Asset Management

Relevant Roles

Real Estate Manager

Property Director

Legal Counsel

Facilities Manager

Commercial Director

Chief Financial Officer

Business Development Manager

Operations Manager

Asset Manager

Compliance Officer

Property Administrator

Real Estate Broker

Contract Manager

Risk Manager

Investment Manager

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