Assessing Real Estate Ownership Regulations in GCC Countries: Towards Convergence or Divergence

Abstract

Objectives: The objective of this study is to investigate the concept of parallel trade, Purpose: The purpose of this paper is to examine the regulatory frameworks governing the real estate sector in the Gulf Cooperation Council (GCC) countries, with a specific focus on the role of land registration departments in regulating land ownership. The study aims to understand how these regulations bolster investor confidence and support the booming real estate market. Methods/Design/Approach: This research adopts a qualitative approach, utilizing a combination of document analysis and case studies. Primary data will be collected from legal documents, government reports, and official publications from the GCC countries. Secondary data will include scholarly articles, industry reports, and expert interviews. The analysis will focus on the laws and regulations implemented by the governments, the establishment and functions of regulatory bodies, and the specific role of land registration departments. Results: The study finds that GCC countries have implemented robust legal frameworks to support and regulate the real estate sector. These frameworks include laws that ensure transparency, protect investor rights, and provide attractive incentives for investment. The establishment of regulatory bodies has further strengthened the sector by developing policies and ensuring compliance. The land registration departments play a crucial role in maintaining accurate land records, facilitating property transactions, and resolving disputes, thereby enhancing investor confidence. Conclusion: The findings suggest that the regulatory measures in the GCC real estate sector are instrumental in fostering a secure and attractive investment environment. The proactive approach of governments in creating and enforcing these regulations, coupled with the efficient functioning of land registration departments, has contributed significantly to the sector's growth and stability. Future research could explore the long-term impacts of these regulations on market dynamics and investor behavior in the region.