Emirates City Forum

I visited in Emirate City a week ago and I spent a few hours at ARRA office in Ajman.
To be honest office was not busy as i expected. It was 3rd of May two days after due day and I stayed there about three hours . ARRA appears a tougher than i expected. Please give a credit any developers who managed to get ARRA's clearance letter.

ARRA is copy cat of RERA and idea is based accountability, transparent, stability of the market and auditing how developers have spent our money. ARRA charges a fee for this service also is another method generating income. I heard that developers cannot claim expenses more than 5%- 10% such as rent, ads and salaries.

ARRA's certified auditors will audit all developers and if ARRA finds out the developer had preached the quota expenses. No clearance letter is being issued unless they meet the quota.
The clearance letter is a go ahead letter issued by ARRA and within two weeks developers must open escrow account.

ARRA will suspend a constructions actives unless developers start registering with ARRA and temporary permit will be issued. Most of developers have stopped receiving the payment and unless they opened escrow account Please don't pay no more money without escrow account.

Finally, I will congratulate here that investors of Tawakal Towers especially Naima projects (kaah and Qamar)have managed to get a clearance letter from ARRA on Tuesday May 05, 2009 .
I invested Tawakal Tower in Emiraty City C-22, I came back from Dubai 7th of May.

I hope this will help
Regards
F yey