Property and Construction Team of the Year: Eversheds
Finalists: Al Tamimi & Company • Bin Shabib & Associates • Dentons • Hadef & Partners • Pinsent Masons
June 19, 2014 at 07:03 PM
2 minute read
Finalists: Al Tamimi & Company • Bin Shabib & Associates • Dentons • Hadef & Partners • Pinsent Masons
Eversheds caught the eye of the judging panel for its work advising on one of the largest residential developments in Ajman in the UAE. "Working with a discerning client in a challenging environment, the team fulfilled the role of trusted adviser," said the judges. "Its collaborative approach has earned it the right to be the winner of this category."
A team from the firm advised developer Aqaar on how to conform to a new regulatory regime that required all residential sales to be registered with the Ajman Real Estate Regulatory Agency (ARRA). The instruction concerned a 12-tower residential complex containing 3,600 units.
Historically, the developer would have held the documentation and dealt directly with both first and onward purchasers. With ARRA registration becoming compulsory, Aqaar sought advice on how to move to the new system.
The role saw Eversheds liaise closely with the agency to devise a robust process for the registration of first and onward purchases. Client satisfaction was demonstrated by the fact that the developer has since instructed Eversheds to review its documentation and oversee a major sale.
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