Sweet Homes Registers With Ajman Realty BodyWednesday, April 22, 2009
Sweet Homes, a leading UAE-based developer and multi-service provider to the real estate sector and part of the Sweet Homes Holdings, has announced that it has become one of the first private master developers to register with the newly-formed Ajman Real Estate Regulatory Authority, or ARRA. The master developer of the Dh3 billion ‘Ajman Uptown’ project has also revealed that it is currently in the process of registering escrow accounts for all of its projects, in accordance with the rules and regulations set by the agency.
Established under the Emiri Decree No. 8 for 2008, ARRA reflects the Ajman Government’s commitment to provide a secure investment climate, thereby allowing growth and ultimately a sustainable economic development for the emirate. The current economic crisis has made it important now, more than ever, to remain vigilant to ensure that all aspects of the property development business are in accordance to the law,” said Fahad Sattar Dero, CEO, Sweet Homes Holdings. “Our move to register escrow accounts for ‘Ajman Uptown’ and ‘Rainbow Towers’ projects underlines our commitment to the implementation of laws in order to support ARRA’s deep resolve to implement all the rules and regulations, which are aimed at setting new industry benchmarks in the emirate.Source: Khaleej Times