We, Mohammed Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, having reviewed:
- Ras Al Khaimah Municipality Law of 1981 and its amendments;
- Ras Al Khaimah Emiri Decree No. 22 of 2008 pertaining to Creation of Escrow Accounts for Real Estate Development Projects in the Emirate of Ras Al Khaimah;
- Ras Al Khaimah Emiri Decree No. 8 of 2014 on the inclusion of the Lands and Properties Sector to the Ras Al Khaimah Municipality Department.
- Based on our keenness to revitalise the real estate and development movement in the Emirate
- In order to protect the funds of developers and investors
- and acting in the public interest
have decided:
A department called Real Estate Regulatory Administration is hereby established in the Ras Al Khaimah Municipality Department to deal with real estate development and developers, including the opening, management and operation of real estate development Escrow Accounts in the Emirate of Ras Al Khaimah. All files, records and accounts of developers shall be transferred from...