Dubai: Law No 14, more commonly known as the mortgage law, will increase investor confidence in the Dubai market as it pulls developers, brokers and investors in line, officials say.

Speaking at the monthly Dubai Property Society (DPS) meeting, industry experts said the recent wave of new property laws will further regulate the market as it bids to transform into an end-user friendly emirate.

From now on, mortgages will no longer be valid if not registered at the Dubai Land Department on the new Interim Real Estate Register.

Any sales done prior to the introduction of Law 14 are not immune, as the law applies to completed and off-plan properties, before and after the issuance of the law. Those sales done before the law have 60 days from the announcement of the law to register.