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04/04/2025 09:17 AST
His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, issued Law No. (1) of 2025 on Friday, introducing a legal framework aimed at increasing transparency, protecting investors, and incentivizing real estate activity across the emirate.
The law, which applies to designated areas specified by royal decree, governs three types of property: undeveloped land intended for joint real estate projects, dilapidated buildings slated for redevelopment, and under-construction projects that will be completed under the real estate contribution system.
The move is aimed at creating a more sustainable and investor-friendly real estate environment in Ajman, in line with the government's goals of attracting capital, enhancing regulation, and improving disclosure in the sector.
Under the new framework, the Department of Land and Real Estate Regulation will oversee the issuance of initial approvals to licensed real estate offices and supervise all contribution-related activity.
The department will also establish and maintain a centralized Real Estate Contribution Register to document key project data, including information on developers, investors, ownership shares, property sizes, and any amendments to the project. The register may be maintained either digitally or in physical form.
Gulfnews
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