Ajman Real Estate Regulatory Agency said it has taken part in the annual conference of the Association of Real Estate License Law officials ARELLO -one of the oldest real estate regulatory bodies in the world, in Philadelphia - United States. The annual event - one of the leading global real estate forums - which wrapped up yesterday tackled several topics, including the real estate laws, property investment and mortgage laws.
The forum, also discussed the mechanisms of the real estate regulation in the world and ways to create investment opportunities in the real estate industry. During the event, number of seminars, most notably a session reviewing governance and meetings organized by the Advisory Committee of the practices of real estate and legal committee were held.
On the sidelines of the assembly, Yafea Al Faraj, Executive Director of Ajman Real Estate Regulatory Agencywas elected a member of ARELLO BoD and a member of the ARELLO’s Legal Committee, to be the first Arab and UAE to win these two positions. Al Faraj received congratulatory messages from ARELLO President and the members of the board wishing him success.Commenting on this achievement, Al Faraj said"this achievement came as a result of the continued support of the Government of Ajman, led by His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman and HH Sheikh Ammar bin Humaid Al Nuaimi Crown Prince of Ajman, Chairman of the Executive Council.” It reflects the support of Sheikh Abdul Aziz Bin Humaid Al Nuaimi, Chairman of the Board and ARRA board members to promote the emirate of Ajman in international events conducive to achieve Ajman-Vision 2021 and the goals for which ARRA has been founded.”
It also reflects the appreciation of ARELLO President , board and over 1050 of ARELLO members from various world countries for the efforts of Ajman in updating the Real Estate legislation and for the Agency’s regular participations in ARELLO events,” he said
During the 5-day event. Al Faraj attended several meetings organized by the Legislation Committee on real estate laws, Consultative Group coveringproperty appraisal, the Finance Committee and the Administration Committee over management of real estate projects.
It is worth mentioning that Al Farajwas elected in April, 2014 as a member of APREA’scouncil of governors for the third time in a row. Association of Asia Pacific Real Estate "APREA" is one of the most prominent real estate regulators in Asia.