Acting upon the directives of the Supreme Council Member and Ruler of Umm Al Qaiwain His Highness Sheikh Saud bin Rashid Al Mualla, the board of directors of the Umm Al Quwain Real Estate Development, has agreed to return all amounts to the investors paid by them for various types of housing units in the Al Salam City project in the emirate.
In its keenness to protect the interests of the investors as well as the company's relationship with them, the board has already returned over Dh400m to more than 2,300 investors along with an explanation for such a move.
The company is currently preparing economic studies and necessary plans in line with the decision of the partners to asses the projects visualised in the Surrah area in Umm Al Quwain.
A group of international consultants who were selected strictly on the basis of international standards are assisting the company to conduct these studies.
The company, based in Umm Al Quwain, is carrying out its operations in coordination with the government in order to select the best projects which will suit the time and will integrate with economic development in the UAE.