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Apartment Joint Venture Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Apartment Joint Venture Agreement

"I need an Apartment Joint Venture Agreement for a three-party venture between a UAE property developer, a Saudi investment company, and a Dubai-based property management firm to jointly develop and operate a luxury apartment complex in Dubai Marina, with profit sharing of 40-30-30 respectively."

Document background
The Apartment Joint Venture Agreement is essential for parties seeking to collaborate in residential property investments within the UAE's dynamic real estate market. This document is particularly relevant in situations where multiple investors wish to pool resources and share risks in apartment property ventures, whether for development, investment, or management purposes. The agreement must align with UAE Federal Laws, including the Civil Code and Commercial Companies Law, as well as specific emirate-level property regulations. It typically covers crucial elements such as ownership structure, capital contributions, profit-sharing mechanisms, management rights, and exit strategies, while ensuring compliance with local property ownership restrictions and registration requirements. The document is commonly used in Dubai and Abu Dhabi's property markets, where joint ventures are a popular vehicle for real estate investment and development.
Suggested Sections

1. Parties: Identification of all joint venture parties, including their legal status and contact details

2. Background: Context of the joint venture arrangement, including the property details and parties' intentions

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

4. Joint Venture Structure: Legal structure of the joint venture and ownership proportions

5. Capital Contributions: Details of initial and ongoing capital contributions from each party

6. Property Details: Specific details of the apartment(s), including location, size, and registration details

7. Management and Control: Decision-making processes and management structure of the joint venture

8. Profit and Loss Sharing: Distribution of profits and allocation of losses between parties

9. Operations and Maintenance: Day-to-day management and maintenance responsibilities

10. Banking and Financial Matters: Financial management procedures and banking arrangements

11. Transfer Restrictions: Limitations on transfer of interests and right of first refusal provisions

12. Term and Termination: Duration of the agreement and termination circumstances

13. Dispute Resolution: Procedures for resolving disputes between parties

14. Governing Law: Confirmation of UAE law application and jurisdiction

Optional Sections

1. Property Management Agreement: Required when a third-party property manager will be appointed

2. Development Rights: Needed if the property requires renovation or development

3. Rental Pool Arrangement: Include when the apartment will be part of a rental pool scheme

4. Islamic Finance Compliance: Required when the joint venture needs to comply with Sharia principles

5. Insurance Requirements: Detailed insurance provisions if not covered in main operations section

6. Environmental Compliance: Required for properties in environmentally sensitive areas or with specific requirements

7. Marketing and Branding: Include when the property will be marketed under specific branding

8. Intellectual Property Rights: Needed if the joint venture involves use of brands or proprietary systems

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the apartment, including floor plans and specifications

2. Schedule 2 - Capital Contributions: Detailed breakdown of each party's capital contributions

3. Schedule 3 - Management Procedures: Detailed procedures for management and decision-making

4. Schedule 4 - Financial Model: Project financial projections and assumptions

5. Schedule 5 - Property Title Documents: Copies of property ownership and registration documents

6. Schedule 6 - Bank Account Details: Details of joint venture bank accounts and authorized signatories

7. Appendix A - Form of Transfer Notice: Template for notice of transfer of interests

8. Appendix B - Property Management Agreement: If applicable, the agreement with property manager

9. Appendix C - Power of Attorney: Template for power of attorney for property matters

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














































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Relevant Industries

Real Estate

Property Development

Construction

Investment Management

Banking & Finance

Hospitality

Property Management

Professional Services

Tourism

Relevant Teams

Legal

Real Estate

Investment

Finance

Compliance

Business Development

Project Management

Risk Management

Asset Management

Property Management

Relevant Roles

Real Estate Director

Investment Manager

Property Development Manager

Legal Counsel

Chief Investment Officer

Asset Manager

Property Manager

Finance Director

Commercial Director

Compliance Officer

Business Development Manager

Project Manager

Joint Venture Manager

Real Estate Analyst

Risk 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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