Wednesday, January 07, 2009

Ajman introducing new property regulation Establishment decree

His Highness Sheikh Humaid bin Rashid Al Nuaimi, UAE Supreme Council member and ruler of Ajman yesterday issued Emiri Decree 11/2008 setting up Ajman Property Regulation Establishment and Emiri Decree 12/2008 amending Emiri Decree 8/2008. The two decrees shall have immediate effect.
According to the 21 article Decree 11/2008, the Ajman Property Regulation Establishment shall have a juridical personality affiliated with the Government of Ajman and shall be administratively, financially independent body with full legal competence.
The Establishment, which is fully tax-exempted, will be tasked with drawing policies for property projects and commercial buildings in the emirates, recommending legislations as well as regulating the relations between property developers and buyers of the various units. It shall recommend speedy, friendly out-of-court approaches to resolve disputes that may arise between the two parties.
It shall also advise the ruler on the allocation of areas for new free zone and property development and commercial buildings. It shall also have the authority to grant licenses to property developers.
Emiri Decree 12/2008 amends Emiri Decree 8/2008, which regulates collective ownership at property projects and commercial building. It is also based on Emiri Decree 11/2008.
The new decree adds "Ajman Property Regulation Establishment" to the definition of "Municipality" and amends the definition of "Director General" to read as follows: "the Director General of Ajman Property Regulation Establishment" and any person authorized to deputize for the Director General.
In Emiri Decree 12/2008, the word "Lands Department" is deleted from Article 9, Article 11, Article 12 and Article 13 and is also replaced by the word "Establishment". The decree deletes Article 4 (Property Projects Committee) and any reference that is made to the committee in Articles 5, 6 and 7.
The word "Establishment" also replaces the term "Property Projects Committee" wherever it occurs in the text of the decree. – Emirates News Agency, WAM

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