Government | Sunday 15 March, 2015 11:23 am |

Ajman/ The Board of Directors of the Real Estate Regulatory Agency of Ajman decided in a meeting chaired by Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Board to approve the recommendations of HE Yafea Eid Al Faraj, Executive Director of the Agency on the registration and activation of the Owners Associations of the freehold projects in the emirate of Ajman .
The move came pursuant to the provisions of the Amiri Decree No. 8 of 2008 to regulate the joint ownership In the real estate projects in the emirate.
Sheikh Abdul Aziz bin Humaid Al Nuaimi, said that forming the Owners Associations and activating its role will help upgrade the level of services in the real estate sector, and boost the real estate market.
He added that “the Agency is in a process to select a specialized company to monitor the work of all owners associations being established in Ajman. The firm, which will be operating under the umbrella of the Agency will have to submit reports on a regular basis,” noting that the activation of the role of Owners Associations will have a significant impact on the development of innovative solutions to save energy, maintain facilities and ensure that appropriate service of the concerned authorities to the projects are provided.
For his part, Al Faraj, said that the decision comes within the framework of the Agency’s endeavors to keep abreast of the developments in the property sector and work in order to advance the level of services in the completed property projects and activate the role of the Associations in order to maintain the overall shape of the building and the safety of its residents.
He Noted that the Agency embarked on the necessary procedures to accelerate the process of activating the role of the owners associations in the emirate.