Al Fajer Properties, wholly owned subsidiary of Dubai-based Al Fajer Group, has announced that its performance-based direction is now measurable by an established construction standard whereby attaining the highest level of transparency on its real estate projects. The developer has voluntarily engaged an independent Real Estate Regulatory Agency (RERA) based 3rd party construction audit, the results of which confirms that work on phase 1 has neared 80% completion and 15% of construction has been completed on phase 2 including the Ebony and Ivory Towers. The audit affirms that Al Fajer Properties have attained the highest level of transparency with its projects.
HH Sheikh Maktoum Bin Hasher Al Maktoum, President, Al Fajer Properties, said, "Often times in the past, some companies in the sector, were led by brokers and sales agents who did not adhere to sound business methodologies as it was very easy to sell real estate due to the excessive demand in the market. However, today Dubai like any developed economy is returning to fundamentals. Therefore, companies that have a strong focus on management and performance as their core competencies are the ones that will excel in these current market conditions."
Al Fajer Properties has also become the first real estate developer in Dubai to use the Oqood system in its entirety demonstrating the highest level of compliance. Over the past few years, RERA has been diligently working with the Dubai Land Department, developers and its preferred partners to bring transparency and clarity to Dubai's burgeoning real estate market.
