UAE – Dubai Real Estate regulator imposes insurance on buidings
Friday, 02 19 2016, Category: Insurance and Reinsurance, Country: U.A.E
The Real Estate Regulatory Agency “RERA” which is part of Land department of Dubai imposed on private property owners to insure buildings and towers with an All Risk Fire insurance which can provide adequate compensation to owners and visitors in case any fire occurs according to Mr. Mohammed Khalifa Bin Hamad, Head of Real Estate Relations at the organization.
Mr. Bin Hammad told “Al Ittihad” newspaper that the Real Estate Regulatory Agency is controlling the fees for all projects of free ownership and is enforcing insurance of all risks against fire on buildings.
Source: Al Ittihad