Visas for Ajman buyers |
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Property buyers in Ajman will now be given residence visas after master developers gave a written assurance to that effect to project developers in the emirate.
The visas will be valid for one year and will have to be renewed annually, said several project developers that Emirates Business spoke to. They said they are entering into agreements with the master developers with a clear mention of assurances from the latter on the issuance of visas.
Harry Kantaria, managing director of Aspire Real EstateAspire Real Estate
, which is selling projects in Ajman's Marmooka City, said: "The written assurance has been made a part of the contract and since most of the master developers are government-owned there is unlikely to be any problems on this front."Yasser A Alnemer, general manager of Saudi Arabia-based developer Berjal Properties, which is developing the Dh15 billion, 30 million sq ft Berjal City, said: "We have it in writing from the government that residence visas will be issued to people who buy properties in our project, but it all depends on meeting certain conditions."
A residence visa will be granted only after the investor or buyer gets possession of the apartment and the developer issues a no-objection letter. The visa costs about Dh1,500 and has to be renewed in Ajman every year, it is learnt.
Christina Cabading, president of BSEL Infrastructure Realty, said: "We have it in writing that master developers will be granting residence visas to our buyers."
BSEL is developing seven towers in Emirates City. The firm has already launched five towers and will be launching another two soon.
Fahad Sattar Dero, chief executive officer of Sweet Homes Real Estate, said earlier contracts did have a visa clause, but new additions, such as "according to UAE law", have been incorporated in the latest contracts.
Sweet Homes is building Ajman Uptown, a Dh2.5bn residential township with 1,504 villas and townhouses, seven buildings, serviced apartments and a hotel.
Latest information suggests visas in Dubai will not be guaranteed for buyers of freehold property.
By Parag Deulgaonkar
© Emirates Business 24/7 2008
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