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URGENT NEWS FROM THE UNITED ARAB EMIRATES In the presence of Saif Bader Al Qubaisi, General Manager of the Municipality of Abu Dhabi, Issa Omair Al Mansouri, Director of the Real Estate Group and Terrestrial, has signed with ALDAR Properties five guarantee contracts Real Estate and Abu Dhabi Commercial Bank Including Saadiyat Drive, Jawahar Al Saadiyat, Lailak, Azure and Turquoise.Project agreements include the construction of approximately 1,500 residential villas or real estate units.
For his part, the director general of the municipality stated that the implementation of the law n ° 3 of 2015 on the real estate market reflected the will of the department of urban planning and municipalities to regulate the sector real estate in accordance with the highest international standards. This will benefit and positively affect the entire real estate sector, encourage investment and promote economic development and sustainable growth in Abu Dhabi. Similar agreements and agreements provide the ideal application of the law and will real estate regulations. He added that since the implementation of the real estate law, the municipality of Abu Dhabi has touched many positive indicators, the most important of which are the trust and credibility that have become part of the relationship between all parties to the real estate development process. The rights of all parties are reserved and the application of the system has contributed to the protection of the rights of investors. He pointed out that the real estate sector operates in accordance with Law No. 3 of the year 2015 which came into force on January 1, 2016. The law contains 7 executive regulations which reinforce the principles of governance and transparency and protect the rights of all parties concerned. The owners' association, the initial mortgage registry, the adoption of fees, as well as the registration of real estate residents, insurance mortgages, the project guarantee account, and finally a executive regulation on licenses.
The Abu Dhabi municipality has confirmed that these five agreements are part of a series of previously signed agreements with real estate development companies and leading banks in this sector, noting that the municipality continues to attract real estate developers and banks to support the enforcement of real estate law. He emphasized that the agreements help to improve the quality of services provided to investors, citizens and residents of the Emirate of Abu Dhabi, emphasizing that the role of the municipality in this regard is to supervise and supervise, to complete and continue projects. According to the agreements, the municipality indicated that it is impossible for the developer to withdraw funds from project assignments until 20% of the actual project phases are completed. Payments are made under the supervision of the project manager. Project Warranty Management Group on the map. The municipality said that the implementation of the land law would contribute to the creation of a new sustainable phase of growth and prosperity in the land and real estate sector that will benefit the local economy, the business world and to the community. (19659004) This content (UAE economy today: "Abu Dhabi Municipality" signed with "Aldar Properties" and "Abu Dhabi Commercial" 5 chords) Offered by the search engine site and transferred as is from the source (United Arab Emirates newspaper) Express the view of the location and La Sia But that is the responsibility of the news and its validity on the original publisher, the UAE newspaper.
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