Ajman Emiri Decree No. 15/2002 Concerning the Real Estate Investment Establishment in Ajman

Amended by:

Ajman Emiri Decree No. 11/2005 dated 31/12/2005

We, Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of the Emirate of Ajman,

After reviewing the studies and recommendations submitted to us concerning the growth of construction movement in the Northern Emirates and the country in general during the past few years, and the urgent need to build several real estate in the Emirate of Ajman to meet the growing demands for such real estate by citizens and expatriates day after day for residential and commercial purposes,

And based on what we deemed necessary to achieve public interest,

We decided to issue this Emiri Decree stating the following:

Article 1 - Title and Effective Date of the Decree

This Decree shall be entitled "Ajman Emiri Decree No. 15/2002 concerning the Real Estate Investment Establishment in Ajman" and shall enter into effect on the date of signing thereof.

Article 2 - Definitions

In this decree, the following expressions shall have the meanings stated below them as follows, unless the context requires otherwise: