Commercial Real Estate Contract Template

Commercial Real Estate Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a Commercial Real Estate Contract Template for the purchase of a mixed-use retail and office building in Dubai Healthcare City, with specific provisions for medical facility licensing requirements and scheduled completion by March 2025."

Document background

This Commercial Real Estate Contract Template is designed for use in the United Arab Emirates' property market, where it serves as a standardized framework for commercial property transactions. The template incorporates all necessary elements required by UAE federal laws, including the UAE Civil Code and Real Estate Regulatory Agency (RERA) regulations, as well as emirate-specific property laws. It is particularly suited for transactions involving office spaces, retail units, industrial properties, and other commercial real estate assets. The document includes comprehensive provisions for property transfer, payment mechanisms, warranties, and completion procedures, while accounting for local market practices and regulatory requirements. This template is regularly updated to reflect changes in UAE property laws and commercial practices, making it a reliable foundation for commercial real estate transactions in the region.

Suggested Sections

1. Parties: Identification of the parties, including full legal names, license/registration numbers, and authorized representatives

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

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

4. Property Details: Comprehensive description of the property, including title deed number, size, location, and permitted use

5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and method of payment

6. Completion and Transfer of Ownership: Process and requirements for completion, transfer of title, and registration

7. Warranties and Representations: Warranties from both parties regarding authority, title, and property condition

8. Due Diligence: Requirements and timeframes for property inspection and document verification

9. Registration and Transfer Costs: Allocation of registration fees, transfer fees, and other transaction costs

10. Default and Termination: Consequences of default and termination rights

11. Notices: Process for serving notices between parties

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

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Conditions Precedent: Specific conditions that must be met before completion, used when there are preliminary requirements

2. Mortgage Requirements: Terms related to property financing, included when purchase involves mortgage financing

3. Tenant Rights: Provisions regarding existing tenancies, used when property is sold with sitting tenants

4. Property Management Handover: Terms for transferring property management responsibilities, used for managed commercial properties

5. Development Obligations: Future development requirements or restrictions, used for undeveloped or partially developed properties

6. Service Charge Provisions: Details of service charges and management fees, used for properties in managed developments

7. Environmental Compliance: Environmental obligations and warranties, used for industrial or specialized commercial properties

8. VAT Provisions: Specific VAT treatment of the transaction, used for VAT-applicable properties

Suggested Schedules

1. Property Schedule: Detailed property specifications, floor plans, and boundary details

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Title Documents: Copies of title deed and other ownership documents

4. Due Diligence Documents: List of required due diligence documents and certificates

5. Existing Tenancies: Details of current lease agreements and tenant information

6. Property Condition Report: Detailed assessment of property condition at time of sale

7. Service Contracts: List of ongoing service contracts and maintenance agreements

8. Building Permits and Certificates: Copies of relevant permits, certificates, and regulatory approvals

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

Commercial Property Development

Retail

Hospitality

Industrial

Office Space

Warehousing and Logistics

Healthcare Facilities

Educational Facilities

Mixed-use Development

Banking and Finance

Legal Services

Property Management

Construction

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Investment

Compliance

Business Development

Asset Management

Operations

Risk Management

Corporate Services

Finance

Relevant Roles

Real Estate Director

Property Manager

Commercial Lawyer

Legal Counsel

Real Estate Agent

Property Developer

Facilities Manager

Asset Manager

Investment Manager

Compliance Officer

Real Estate Investment Analyst

Chief Legal Officer

Business Development Manager

Real Estate Portfolio Manager

Transaction Manager

Corporate Real Estate Manager

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