The Ajman Real Estate Regulatory Agency (ARRA, ARERA or Ajman RERA) is an
Ajman
Ajman ( ar, عجمان, '; Gulf Arabic: عيمان ʿymān) is the capital of the emirate of Ajman in the United Arab Emirates. It is the fifth-largest city in UAE after Dubai, Abu Dhabi, Sharjah and Al Ain. Located along the Persian Gulf, i ...
,
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...
based government
regulatory authority
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government agency, government authority that is responsible for exercising autonomous dominion over some area of human activity in a licen ...
responsible for the
regulation
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. Fo ...
and
licensing
A license (or licence) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).
A license is granted by a party (licensor) to another party (licensee) as an element of an agreeme ...
of Ajman's
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
market,
consumer protection and
dispute resolution. However, ARRA does not resolve disputes concerning rent of property units.
Jurisdiction and legal powers
All
land
Land, also known as dry land, ground, or earth, is the solid terrestrial surface of the planet Earth that is not submerged by the ocean or other bodies of water. It makes up 29% of Earth's surface and includes the continents and various isla ...
,
villa
A villa is a type of house that was originally an ancient Roman upper class country house. Since its origins in the Roman villa, the idea and function of a villa have evolved considerably. After the fall of the Roman Republic, villas became s ...
s and
apartments,
freehold
Freehold may refer to:
In real estate
*Freehold (law), the tenure of property in fee simple
* Customary freehold, a form of feudal tenure of land in England
* Parson's freehold, where a Church of England rector or vicar of holds title to benefice ...
or otherwise within Ajman, must be solely registered with ARRA. Noncompliance may result in the developer being fined 100,000
AED (27,233.12
USD
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
) onwards. ARRA is also responsible for certifying
escrow
An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacti ...
bank accounts.
[ The National ]
Ajman adds ADIB to escrow list
See also
*
Real Estate Regulatory Agency
References
External links
*
Organizations with year of establishment missing
Real estate industry trade groups
Government agencies of Ajman
Economy of the Emirate of Ajman
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