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.
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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