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Tameer projects published on RERA website

Dubai, 23 March 2009

Tameer, one of the region’s leading developers, has hailed the latest efforts of the Dubai Real Estate Regulatory Authority (RERA), expressing its appreciation for the new ‘Project Progress Indicators’ now available on the authority’s website. Seven Tameer projects have been posted under the ‘Project Progress Indicators’, along with a number of other projects, underscoring the keenness of developers to continue construction progress, and their commitment to delivering projects to investors and buyers, in line with RERA’s plan to support the transparency and credibility of property companies in the emirate’s real estate market.

The Project Progress Indicators, launched by RERA at the beginning of this month, aim to follow up on Dubai’s real estate projects, and provide reports by a third party contracted to perform independent inspections and progress monitoring of all RERA-approved projects under construction in Dubai. The reports for Tameer projects, which include both images and details on work being carried out, are accessible via the ‘Project Progress Indicators’ link on the RERA website (www.rpdubai.com).

Tameer projects that have already been posted are: the ultra-luxurious Elite Residence, and the world’s tallest residential tower – Princess Tower, both in Dubai Marina; Palace Towers in Dubai Silicon Oasis; Imperial Residence in Dubai’s trendy Jumeirah Village district; and three state-of-the-art commercial towers in the prestigious Business Bay district: Regal, Silver and Platinum Towers.

Ghassan Sakhnini, CEO of Tameer, praised the step initiated by RERA, “We are delighted that RERA has posted progress monitoring reports for real estate projects on its website, demonstrating conclusively that construction is ongoing in Dubai, particularly since reports for seven of our Dubai projects have so far been posted, showing the ongoing construction activities. 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.”, he said.

Tameer is one of the region’s leading developers, with a number of prestigious projects throughout the region. In 2008, Tameer Towers project in Shams, Abu Dhabi, on Al Reem Island, was announced by International Property Awards the single most accredited development in the world. Tameer is also developing Madinat Al Majd in Amman, Jordan, in collaboration with Jordan’s Housing and Urban Development Corporation (HUDC).