RERA Audit performed on Dubai Property Firm comes Clean

Al Fajer properties successfully came out of the independent third party audit with RERA support. This Dubai property firm recently went through a construction audit which was voluntary and the audit was carried out by RERA. Al Fajer got a clean chit for its construction and they are pleased to announce that their performance can now be measured by a well established construction standard thereby; highest level of transparency will be maintained for all the projects under this property firm. The result of this audit undertook by Al Fajer confirms that the construction being carried out at phase 1 has been completed to about 80 percent and 15 percent has been completed on phase 2.

The official RERA website is the source where the progress of the project can be monitored. Company’s restructuring was started with managerial restructuring, followed by a financial restructuring which strengthened the balance sheet as a result. Phase 3 involves strengthening the operational capabilities of the company and removing the inefficiencies. Due to this operational excellence AFP, has now become number one developer in Dubai which delivers highest level of compliance.

President of Al Fajer properties, His Highness Sheikh Maktoum bin Hasher Al Maktoum 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. I am confident that we will continue to deliver measurable results through our performance and dedication.” His Highness further commended on RERA’s proactive approach for attaining full transparency in line with its aspirations and clearly mentioned goals as far as the real estate sector is concerned.