The listing will enable Remraam owners to obtain a pre-title deed to their property directly from the Government of Dubai when the project is completed. For non-resident Remraam owners, such a benefit will be especially significant allowing them to hold a government certified ownership document in addition to the existing sales and purchase agreement with Mizin.
The listing, which includes the entire inventory of Remraam units, appears on 'www.oqood.ae', the online service of Emirates Real Estate Solutions (ERES), a subsidiary of Dubai Lands Department that standardizes registration of contracts for all off-plan property transactions in Dubai in accordance with current regulations.
Mizin is currently liaising with RERA on the registration of the sale transactions of Remraam properties.
Ahmad Sharaf, Chief Executive Officer, Tatweer Investments said, "Mizin is committed to creating a trusted and regulatory environment in Dubai's real estate industry. We intend to facilitate global best practices within the industry by ensuring strict compliance with the latest regulations and maintaining a high level of transparency in our sales processes. We believe these regulations are critical for the long-term sustainability of the market."
Ahmad Khalifa Al Qaizi, Chief Executive Officer, ERES said, "Mizin has been extremely proactive in its approach to delivering on RERA's requirements. With the registration of the Remraam project, Mizin is amongst the leading developers to have completed the mandatory registration of all its residential units. We are delighted with the progress of Remraam and will continue to work closely with Mizin on all RERA requirements for master developers."
Work on the Remraam community continues with 90% of the sewer, water, and drainage systems already completed. 65% of the overall infrastructure has been completed, while excavation works for foundations of 82% of the buildings has also been finished. In addition, 45% of all buildings have had foundations poured and selected buildings have reached the 4th floor.
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Mizin's Remraam Development registered with Real Estate Regulatory Agency
- United Arab Emirates: Wednesday, March 11 - 2009 at 14:03
- PRESS RELEASE
Mizin, the real-estate development arm and a member of Tatweer, today announced that its 23.5 million sq foot Remraam community, has been listed with the Real Estate Regulatory Authority (RERA) of Dubai Lands Department in accordance with Law No. 13 of 2008 that regulates the interim real estate register in Dubai.
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About Mizin:Mizin, a member of Tatweer, aims to become the developer of choice in the UAE, by combining business acumen with expertise and customer insights, supported by a service that is confident, transparent and genuine.
Since its inception in 2006, Mizin has already launched three strategically located communities, Liwan, Majan, Arjan that cover a total area of over 70 million square feet. Each of these developments focuses on creating a unique environment, thus enabling a unique lifestyle; Majan - the dynamic, cosmopolitan downtown of Dubailand, Arjan - an art-deco inspired metropolis and Liwan - the 'gateway to New Dubai,' modeled on modern architectural styles, offering the eclectic lifestyle of a modern suburb.
Mizin's fourth development, Remraam, is the best selling development to date in the UAE, selling over 8,000 units within 7 months. Conceived to fill a prominent gap in the market, Remraam meets the needs of families looking to have an affordable yet upscale lifestyle, founded on unparalleled quality standards.
Mizin is currently working on a series of innovative developments of varying usages such as iconic towers, new retail and entertainment concepts as well as niche oriented residential and mixed use developments.
Mizin will continuously place the needs of property buyers first, developing projects with people's lifestyles and aspirations in mind.
About Tatweer
Tatweer is a member of Dubai Holding and one of the largest and fastest growing business conglomerates in the region. Tatweer's name is synonymous with some of the most ambitious developments in Dubai and an equally extensive portfolio of prestigious projects in the pipeline.
Launched in December 2005, Tatweer owns and manages a strategic group of entities across six diverse industry verticals: Leisure and Entertainment, Commodities, Healthcare, Hospitality, Manufacturing, and Real Estate. The operations are strategically grouped under two distinct divisions - Tatweer Dubai and Tatweer Investments.
Tatweer Dubai will focus on project development within the UAE and advance strategic long term partnerships such as Partners-Harvard Medical International; the internationally renowned golfer Tiger Woods; IRCA Global, and Universal Studios. Tatweer Dubai's entities comprise Dubai Healthcare City (DHCC), the region's hub for world-class quality healthcare services; Dubailand, the world's most ambitious tourism, leisure and entertainment destination; The Tiger Woods Dubai, the exclusive golf community home to the world's first golf course design created by Tiger Woods Design as its centrepiece; Bawadi, the largest hospitality, shopping and entertainment cluster in the world; Dubai Industrial City, a township to develop Dubai as a leading manufacturing hub; IRCA Middle East, a joint venture with International Risk Control Association IRCA Global, South Africa to provide comprehensive pure risk management solutions to a wide spectrum of industries in the MENA region; Global Village, bringing together 160 different countries showcasing myriad cultures; and the Parks & Resorts Dubailand featuring Universal Studios Dunailand, Dreamworks Dubailand, Six Flags Dubailand, Legoland Dubailand, Marvel Dubailand, Freej Dubailand and HIT Entertainment.
Tatweer Investments will drive Tatweer's foray into international markets, leveraging its synergy with leading global strategic partners. It will extend Tatweer's existing intellectual property portfolio and generate innovative IP driven investments and partnerships overseas. The entities under Tatweer Investment's portfolio include Mizin, pursuing a vision to become the real estate developer of choice in the UAE; Dubai Mercantile Exchange, the premier international commodity futures exchange in the Middle East; and new businesses in the food and beverage industry forged through alliances with leading international brands.
For Further Information, Please Contact:
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Senior Media Relations Executive
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Tel:+971 4361 3599
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Posted by Rana MesbahWednesday, March 11 - 2009 at 14:03 UAE local time (GMT+4)
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