Developers in Ajman continue to sell projects with visa clause |
|
Text Size 
Developers in Ajman are continuing to sell properties with sales contracts that include a clause of visas to buyers and investors, Emirates Business has learnt.
"We continue to sell our units with the clause of a visa in our sales contracts. As of yet, we have not got anything in writing from our master developers about any ban on visas," Christina Cabading, President, BSEL Infrastructure Realty, said.
According to Fahad Sattar Dero, Chief Executive Officer, Sweet Homes, the company was keeping the guarantee of visa issuance in its sales contracts. However, it has removed the mention of the type of visa guarantee in its contracts.
"Previously we were putting 'residence visa' as the type of visa guarantee, however, we are now only putting 'visa' in our sales contracts," he added.
This newspaper earlier reported that the Ajman Government was stepping up measures to closely regulate the real estate buyers' profile in the emirate by temporarily stopping issuance of residence visas.
Last year, this newspaper reported that master developers in Dubai had removed the clause that guarantees a residence visa for buyers from contracts they enter into with sub-developers.
On Tuesday, His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, issued a decree to establish Ajman real estate regulatory authority.
The agency will aim to regulate activities in Ajman's real estate sector, frame policies and set up a legal framework for the licensing of real estate projects. It will draw up public policies to develop real estate projects, and suggest legislations and systems needed to organise real estate development operations and transactions.
By Parag Deulgaonkar and Anjana Kumar
© Emirates Business 24/7 2009
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Nissan Motor Egypt | Egypt | Transportation Products |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Ministry of Health - Saudi Arabia | Saudi Arabia | Ministries and Municipalities |
| KIA Motors Saudi Arabia | Saudi Arabia | Transportation Products |
| Saudi Arabian Oil Company | Saudi Arabia | Oil |
| Federal Electricity and Water Authority | UAE | Electric Utilities |
| General Motors Middle East | Region-wide | Transportation Products |
| Sohar Power Company | Oman | Electric Utilities |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| Ras Girtas Power Company - Ras Girtas IWPP | Qatar | Power and Water |
| IGD - Gasco - Habshan 5 Gas Processing Plant | UAE | Oil and Gas |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| Qatar Foundation - Sidra Medical and Research Center | Qatar | Real Estate |
| Aramco/Dow Chemical - Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Abu Dhabi Ports Company - Khalifa Port and Industrial Zone (KPIZ) | UAE | Infrastructure |
| SATORP- Jubail Refinery and Petrochemical Complex - Conversion Unit and Sulphur Package (Part 2) | Saudi Arabia | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |