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Ajman plans real estate regulator
The UAE emirate of Ajman plans to establish a regulatory body along the lines of Dubai's Real Estate Regulatory Agency (Rera) early next year to watch over property developments. The new body will be responsible for regulating and managing the emirate's property sector, which will include the enforcement of an escrow account law, a system under which all money collected by developers from buyers is used solely for the construction of a project. The escrow regulations form part of Ajman's property law, which was introduced in June.
ameinfo.com Wednesday, December 10, 2008

Al Habtoor Leighton's orderbook swells to Dhs30bn
In less than a month Al Habtoor Engineering-led consortia have one three major contracts worth Dh16.75bn ($4.56bn), pushing the company's orderbook to Dhs30bn, a company spokesperson told Gulf News. The latest series of contracts has also boosted the share price of its Australian parent company Leighton Holdings - the largest construction conglomerate Down Under. Sydney-based Leighton rose 15%, an eight-week high to A$24.44 at close on Monday on the Australian stock exchange.
ameinfo.com Wednesday, December 10, 2008

Jumeirah golf development to be redesigned
Phase B of the Jumeirah Golf Estates community is being redesigned because the Dubai Roads and Transport Authority (RTA) has introduced plans for a road to run through the project, reported The National. Phase B was originally designed in 2004 and is made up of villas, cottages and medium-rise apartment buildings surrounding the Water golf course, designed by the Fijian professional golfer Vijay Singh. Leisurecorp, which is developing the $10.8bn community, is working with the RTA and UK-based Mott MacDonald, the engineering consultant hired last year to manage Phase B, to work out a plan for transport connections.
ameinfo.com Wednesday, December 10, 2008


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