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Nothing 'tangible' has come from RERA - top lawyer

akhiabani's picture

Top UAE lawyer Dr Habib Al Mulla has accused real estate watchdog RERA of dragging its heels on the formation of a real estate law in the country.

In an interview in Arabian Business, Al Mulla said: “In property there is no framework to protect the consumers. We need a proper strong real estate law in Dubai and in the UAE.

"Until now we have not seen anything tangible come out of RERA. I think they are well behind and they need to speed up.”

Al Mulla added he was concerned that no strong legal infrastructure had been put in place during the recent recession.
http://www.arabianbusiness.com/nothing-tangible-has-come-from-rera-top-l...

akhiabani's picture

Arra

Maybe something 'tangible' will come out of Arra when their website comes back.

Josau's picture

True, nothing on the ARRA web

True, nothing on the ARRA web site works, the "latest news" section is from 2010.

ARRA

It is thanks to ARRA sitting on their backsides that has cost us our investments. The developers have been allowed to float laws without impunity. Developers have been taking deposits/payments knowing they have no intentions of building, they knew that they would not be held to account to these investor funds.

Investors on the other hand have no-one to turn to, the law is doing nothing and ARRA is sitting idle for the last 4-5 years. Even if one wishes to pursue the legal route, they have no chance of getting any help against these crooked developers. The Ajman government is actually discouraging investors to take legal action against developers, with high legal costs and very little chance of getting a refund - ARRA also not cancelling projects even where developers have done nothing for 4-5 years. These legal contracts should have some legal protection from the government, at present the contracts are worthless bits of paper. Ajman government it is time to wake up and stop destroying your state over taking short term back handers.

akhiabani's picture

Humaid City Investors

Arra has a settlement proposal for this project. Unfortunately even with Google translate I couldn't figure it out.

ARRA is useless / worthless

I had filed a complain in 2011, have been following up but nothing has been done.
I recently travelled to Ajman to find out for myself, they were very very non-business eithical, even after more than 2 years of filling a complain, they have not even bothered to read the documents which I have submiited with the complain/ARRA requirement.
In my opinion, ARRA is worthless, completely useless organization for investors. I assume it has been setup to protect the developers, misguide and threaten the investors and so on...