In this interview, Sheikh Abdul Aziz Bin Humaid Al Nuaimi, Chairman of the Board of Directors of the Real Estate Regulatory Agency (ARRA), sheds light on the property market trends and ARRA’s achievements during 2015, saying that 2015 saw tangible stability, however, Q3 of this year may witness growth in the real estate transactions, particularly in the ready projects. Ajman has been witnessing booming urban and the real estate sector in the emirate still of great interest to property investors. The emirate exerts determined efforts to implement the directives of our wise leadership to achieve Ajman Vision 2021.TransactionsConcerning property transactions, Sheikh Abdul Aziz Bin Humaid Al Nuaimisaid, although 4032 units in seven freehold projects were delivered in 2015, transactions in the real estate units in completed projects have been increasing compared to units in under construction projects. Total property transactions in 2015 amounted at AED 11 Billion In the freehold projects, transactions have increased by 27% compared to the results of last year and the total value of the transactions in 2015 amounted to about AED 450 million, and the number of transactions totaled 1147, while the total value of transactions in 2014 amounted to nearly AED 352 million and
Emanating from its determination to be part of the national strategy for innovation, which aims to move to a new stage where innovation culture among individuals is disseminated and the conceptof innovation at the heart of the organization's activities is established, the Real Estate Regulatory Agency ARRA announced the launch of “Institutional Creativity Lab” Initiative. “The initiative aims to improve corporate performance and the level of services provided to its customers to provide outstanding government service based on the highest quality principles and criteria.”The Lab held a series of brainstorming sessions where all parties involved have taken part to inspire the creative ideas using the necessary means to develop, and find key solutions capable of facing challenges during ARRA’s efforts towards excellence. This move aims to spread the culture of excellence and provide a new methodology and practical experience and ample activities whose basic pillars are thinking from the perspective of finding solutions rather than narrating problems.
Real Estate Regulatory Agency (ARRA) participated said it has participated in APREA Leaders Forum, which was held in Singapore from 24 to 26 NovemberThe gathering, which lasted three days have tackled a number of real estate topics, including the new geopolitical investment compass in the world of re- balance, the hottest spots for real estate investments and fluctuations and trends of the real estate markets.Commenting on the participation, Yafea Al Faraj, ARRA Executive Director said. "This year’s Forum witnessed participation of a number of Real Estate Regulatory organizations and bodies and major real estate companies. Among the topics discussed at the conference were the challenges facing the real estate sector and means to explore the hottest spots for real estate investments as well as fluctuations and trends of the real estate markets in the shadow of an unstable global economy," " Since holding the first APREA Property Leaders Forum in 2005, this year’s gathering said to be the most successful one, where more than 250 delegates from 22 countries, in addition to a number of property companies, developers and leading real estate regulators to discuss property concerns and ways to develop this industry in Asia and the region. "He also