Real Estate Registration Authority in Al-Ain Municipality has implemented an electronic project aims at creating a comprehensive institutional database, to be used in all of the authority's transactions, reported the Emirate newspaper, Al-Bayan on September 19, 2005.
The general manager of the authority, Saeed Al-Ameri, mentioned the growing activity in Al-Ain's real estate market, as the value of real estate assets traded through a short period hit more than 277 million Emirate Dirham ($75.4 million).
As part of the electronic project, the authority set a fixed number for owners of real estate assets registered in the authority. This number is included in the cards designed for real estate trade. Some 627 cards were issued during two months with the value of 500 Emirate Dirhams ($136.1) per each card. The fixed number enables the authority to follow a real estate asset transferred through various owners.
Saeed Al-Ameri added that 480 popular houses have been delivered in various regions in the city of Al-Ain since the beginning of 2005. Other 650 popular houses will be delivered in the city before the end of the current year, he added.
