One of the UAE’s biggest real estate developers has given its approval to an online construction monitoring system after it was brought in by the Dubai authorities.
Tameer, which has several residential tower projects in the emirate, said the project progress indicators developed by the Real Estate Regulatory Authority (Rera) were “important” and “necessary”.
Rera has been collecting pictures and independent reports of every major construction scheme in Dubai and made them publicly available online early in March.
Property experts hope the move will improve transparency and confidence in Dubai’s flagging real estate market.
Tameer chief executive Ghassan Sakhnini said: “We believe that these reports are an excellent way to provide clients and investors with easy access to project updates.
“This decision is an important one for maintaining the trust and transparency necessary for the Dubai real estate market to continue to grow and strengthen.”
Tameer property projects now with their own online Rera reports include Elite Residence, and Princess Tower, both in Dubai Marina.
Also with their own assessments are Palace Towers in Dubai Silicon Oasis, Imperial Residence in Dubai’s Jumeirah Village district and three commercial towers in the Business Bay district – Regal, Silver and Platinum Towers.
The report on Elite residence says works are “generally on schedule”, while the assessment of Palace Tower says the property is progressing in accordance with an updated schedule “despite being significantly behind the original contract schedule”.
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