Ajman Ruler issues law regulating real estate development
DUBAI, May 20, 2020
Ajman's ruler has issued a new law pertaining to regulation of the emirate's real estate development in a bid to maintain a balance between the interests of both the developer and buyer and ensuring the emirate's competitiveness in the property sector.
HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has issued a new law pertaining to the regulation of real estate development in the Emirate of Ajman.
It is aimed at regulating real estate development projects in the emirate to forge a safe investment environment in the field of real estate development.
It is also focused at achieving a balance between the interests of both the developer and the buyer, ensuring and enhancing the emirate's competitiveness in the real estate sector.
As per the royal decree, any other text or judgment contradicting the provisions of this law will be cancelled. It shall come into force 30 days following its issuance and will be published in the official gazette.-TradeArabia News Service
