Ajman to Strengthen Real Estate Laws

Sunday, 27th November 2016

The emirate of Ajman is considering the introduction of new real estate regulations to help restart projects that stalled during the real estate bust that following the financial crisis of 2008, reported The National on Thursday.

With new regulations, the hope is that stalled projects could be passed on to others developers who are actually in a position to finish them, according to Yafea Eid Alfaraj, Executive Director of Ajman’s Real Estate Regulatory Agency (Arra).

He however did not disclose any further details about the planned law or when it would be issued, but said that its introduction would generate more trust in the market, admitting the reputation of the emirate had suffered due to the large number of delayed projects.

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