Estate Agents & Advertisers: Login or Register Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
IPIN Left IPIN Middle IPIN Right
Header Corner
Find Property in :

E.g. "Marbella" or "Manchester". Looking for more search options?

 
Secure Exit Strategy


Dubai sets precedent, adopts international property measurement standards

Date : (News Section: United Arab Emirates)

Share
Dubai sets precedent, adopts international property measurement standards
UAE property is known for its innovation and Dubai has now gone one step further, setting an important precedent by becoming the first government to officially support international property measurement standards (IPMS). Working with the Royal Institution of Chartered Surveyors (Rics), the Dubai Land Department will now form a committee to organise and coordinate their feedback and contribution to the standard setting process.

The decision follows a meeting between the IPMS Coalition and the Dubai Land Department on September 16th. According to Rics, Dubai officials were supportive of the standards and aware of the problems created by too much variation. IPMS are designed to eradicate this inconsistency and bring transparency and confidence to the UAE real estate market.

During the coalition meeting, the director general of the Dubai Land Department HE Sultan Butti Bin Mejren praised the collaboration of the 22 organisation working together on the initiative. The meeting was attended by Rics director of the Middle East Rob Jackson, chief executive officer of Dubai Properties Group Khalid Al Malik and chairwoman of the Real Estate Investment and Promotion Centre Majda Rashid.

HE Sultan Butti Bin Mejren commented: "We are proud of this achievement, which we see as being a quantum leap for the Dubai Land Department. Our involvement in this initiative supports our position in raising the benchmark for unifying surveying standards in Dubai. The efforts to unify surveying standards should benefit property owners and investors, as it will negate some of the issues and problems that can arise from differing standards used by real estate operators."

He added that IPMS will increase trust in the UAE property market and improve global convergence. What's more, setting the precedent for these standards will support Dubai's bid to host Expo 2020, which bears the important slogan 'connecting minds, creating the future'. During the meeting, two new members were also appointed to the IPMS Coalition: Brazil-based housing syndicate Secovi and US body the Counselors of Real Estate.
Share

Article by +Peter Mindenhall on behalf of Propertyshowrooms.com

Related Articles

  1. UAE Cities Named Among Fastest Growing Property Markets
  2. UAE Prices Could Reach Pre-Crisis Levels by 2014
  3. Lack of Data Causing Issues in UAE Market, Say Experts
  4. UAE Property Auctions Could See Investors Grab Bargains
  5. Renting Trumps Buying in UAE, Giving Edge to Investors



Let us search for you Let Us find Property in United Arab Emirates for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in United Arab Emirates.

SubscribeGet Email Updates!

   

* We value your privacy and will never share your email address with anyone else.

the FX firm
Investment Property

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: United Arab Emirates
Channel: All

More RSS FeedsGo

Media/Press SectionProperty News Search


   

News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo