Dubai's Real Estate Regulatory Agency (Rera) and Ajman Real Estate Regulatory Agency (Arra) have signed a co-operation agreement to create a unified strategy to develop the property sector.
The agreement emphasises the need to create a unified strategy to develop, modernise and organise real estate-related activities including developers, real estate brokers and property management companies as well as the workforce of such companies.
The agreement, which underlines the importance of strengthening co-operation ties between the two organisations, was signed by Rera CEO Marwan bin Ghalita and Arra Director-General Omar Al Barguthi in the presence of Sultan bin Butti, General-Manager of Land Department.
Bin Ghalita said the agreement as a major step forward in the real estate sector. It will focus on in establishing a unified vision in developing, updating and regulating all real estate activities, companies and people who work in brokerage offices, and real estate management.
"In addition we will prepare necessary criteria and conditions to own broker identity and real estate management identity. The agreement will regulate the work of brokers and real estate advertising between the two emirates along with laws and regulations in Dubai and Ajman by establishing a unified database with all information and data relevant to the brokerage business, real estate management or real estate development," bin Ghalita added.
Al Barguthi said the agreement corroborates the iron-clad relationship between Arra and Rera.
Source: Business24/7
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Sunday, May 10, 2009
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