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29 March 2024

New Arra laws set to regulate Ajman property

Published
By Staff Writer

Ajman Real Estate Regulatory Agency (Arra) will issue new laws to regulate the market during this year.

Director-General Omar Al Barguthi told Al Khaleej local daily the new laws will regulate the market following a period of management and investment haphazardness.

Al Barguthi said the global financial crisis has largely contributed to the correction of the real estate market, and the market has reasonably benefitted from the correction.

He said the real estate laws and decrees issued by His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, have helped the emirate add more attraction for real estate investors.

Al Barguthi added that many developers and investors have been satisfied with the measures taken by the agency.

 

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