As part of its participation in GITEX 2023, the Department of Land and Real Estate Regulation-Ajman and Al Etihad Credit Bureau have signed a Memorandum of Understanding to enhance the strategic partnership between the two parties and promoting ways of cooperation, information exchange and raising the quality of services.
Both Mr. Ahmed Khalfan Al-Shamsi and Director of Land Registration Department, and Ibrahim Al-Zouabi Head of Business Development Department, Al Etihad Credit Bureau Company have signed the Memorandum.
Ahmad Khalfan al-Shamsi said that the signing of this memorandum is based on the Department’s desire to establish strategic cooperation with all partners of various sectors and to promote joint action to achieve continued improving and development and to raise the overall performance of the Department and working towards achieving its vision.
He also underlined the importance of cooperation of the Department of Land and Real Estate Regulation with Al Etihad Credit Bureau and to avail its unique services and experiences especially those related to credit reports provided to assist individuals and organizations in understanding of financial liabilities and creditworthiness.
Al-Shamsi declared that, under this memorandum, Al Etihad Credit Bureau shall grant the Department the authority to review the credit evaluation of real-estate developers and management departments, in addition to making these data available for service bodies and other concerned authorities if requested to be used each according to his competency.
From his part, Ibrahim Al-Zouabi Head of Business Development Department, Al Etihad Credit Bureau Company said: we are pleased to cooperate with Ajman Land Department, as this cooperation shall add new value to the credit report particularly to the Financial obligations, paid or not, for the service and maintenance of completed properties, thereby enhancing the comprehensiveness of the credit report on the one hand and establishing the principles of discipline regarding the payment of financial obligations related to the real estate sector in the Emirate of Ajman.
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