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Joint Venture Agreement For Property Development Template for United Arab Emirates

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Key Requirements PROMPT example:

Joint Venture Agreement For Property Development

"I need a Joint Venture Agreement for Property Development between our Dubai-based real estate company and a foreign investor from Singapore for a luxury residential tower project, with an initial investment of AED 500 million and construction starting in March 2025."

Document background
A Joint Venture Agreement For Property Development is essential when multiple parties wish to collaborate on real estate development projects in the UAE. This document is particularly relevant in the context of UAE's dynamic property market and its specific regulatory framework, including foreign ownership restrictions and RERA requirements. The agreement typically combines local expertise with international investment and development capabilities, structuring the relationship between parties for successful project execution. It covers crucial elements such as land contribution, development expertise, financial investments, profit sharing mechanisms, and project management responsibilities, while ensuring compliance with UAE laws and regulations. The document is commonly used for both commercial and residential developments, from initial planning through to project completion and sales.
Suggested Sections

1. Parties: Identification of the JV partners, including full legal names, registration details, and registered addresses

2. Background: Context of the JV formation, brief description of the development project, and parties' expertise

3. Definitions and Interpretation: Definitions of key terms, interpretation rules, and language governing the agreement

4. Formation of Joint Venture: Legal structure, name, objectives, and scope of the JV entity

5. Capital Contributions: Details of initial and future capital contributions, including land, cash, and other assets

6. Ownership and Profit Sharing: Ownership percentages, profit/loss distribution mechanism, and capital account maintenance

7. Management and Control: Governance structure, board composition, voting rights, and decision-making processes

8. Development Project: Specific details about the property development project, timeline, and deliverables

9. Financial Matters: Banking arrangements, accounting principles, financial reporting, and audit requirements

10. Transfer Restrictions: Limitations on transfer of interests, right of first refusal, and tag-along/drag-along rights

11. Term and Termination: Duration of the JV, termination events, and consequences of termination

12. Confidentiality: Protection of confidential information and trade secrets

13. Dispute Resolution: Dispute resolution mechanisms, governing law, and jurisdiction

14. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Shariah Compliance: Required if the JV needs to operate under Islamic finance principles

2. Intellectual Property Rights: Needed if the JV involves significant IP, such as unique design concepts or building technology

3. Environmental Compliance: Required for projects with significant environmental impact or green building requirements

4. Employment Matters: Necessary if the JV will directly employ staff rather than using contractors

5. Marketing and Branding: Include if the JV requires specific provisions for project marketing and brand usage

6. Insurance: Detailed insurance requirements beyond standard provisions

7. Force Majeure: Expanded force majeure provisions beyond standard clauses

8. Anti-Corruption Compliance: Required for international partners or compliance with specific anti-corruption frameworks

Suggested Schedules

1. Schedule 1 - Property Details: Legal description of the development property, including title details and encumbrances

2. Schedule 2 - Business Plan: Detailed business plan including development concept, market analysis, and financial projections

3. Schedule 3 - Capital Contributions: Detailed breakdown of each party's initial and committed capital contributions

4. Schedule 4 - Development Timeline: Project milestones, construction phases, and completion deadlines

5. Schedule 5 - Management Structure: Detailed organizational structure, roles, and responsibilities

6. Schedule 6 - Required Approvals: List of required governmental and regulatory approvals

7. Schedule 7 - Initial Budget: Detailed project budget including construction costs and contingencies

8. Schedule 8 - Reserved Matters: List of decisions requiring special approval or unanimous consent

9. Appendix A - Form of Shareholder Resolution: Template for shareholder resolutions

10. Appendix B - Technical Specifications: Detailed technical requirements and specifications for the development

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses












































Relevant Industries

Real Estate

Construction

Property Development

Infrastructure

Commercial Real Estate

Residential Real Estate

Mixed-use Development

Urban Planning

Architecture

Construction Materials

Real Estate Investment

Real Estate Finance

Relevant Teams

Legal

Real Estate

Development

Construction

Finance

Operations

Compliance

Commercial

Project Management

Business Development

Investment

Architecture

Planning

Relevant Roles

Chief Executive Officer

Managing Director

Development Director

Real Estate Manager

Project Manager

Legal Counsel

Construction Manager

Investment Manager

Finance Director

Operations Director

Business Development Manager

Commercial Director

Compliance Officer

Property Manager

Architecture Director

Planning Manager

Contract Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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