Real Estate Regulatory Authority : Warns Brokerage firms Over Ads Violations

Mr. Yousif Al Hashimi,

Dubai's real estate regulator, RERA (Real Estate Regulatory Authority) said on recently that it has issued warnings to 23 brokerage firms for breaching advertisements rules.

The RERA, the regulatory arm of Land Department in Dubai, said the warnings were issued after RERA's Permits Section found violations in company advertisements in the  newspapers, magazines and websites or distributed via e-mails. 

The RERA organisation said real estate companies faced fines of AED 50,000 for the advertisements rules violations.

Main reason, the real estate Brokerage companies did not indicate their registration numbers issued by RERA in the advertisements published in medias, according to RERA's statement.

Mr. Yousif Al Hashimi, Director, Real Estate Licensing Department in RERA said,'' RERA has issued a circular to all the real estate brokerage firms concerned telling them they must publish their office registration number and the broker registration number in all advertisements".

Mr. Sultan Al Suwaidi, Section Manager,Real Estate Permits and Inspection Section of RERA, said: "In case these real estate companies do not adhere to the circular and warning, they will be considered a violation of the licensing terms issued by RERA.It will impose an administrative fine of AED 50,000 against firms that commit violations and will take the required legal action against these entities if they do not follow the conditions and laws."

Mr. Al Suwaidi also said,''Investors who wish to purchase housing flat units to be cautious when dealing with commercial advertisements that promote property sale by checking the broker registration number and the office registration number issued by RERA.

RERA further said, We ares working to create a - professional real estate environment governed by clear laws and regulations for all relevant parties in  Dubai".

About RERA
RERA was established in July 2007 by a decree of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai. RERA, Real Estate Regulatory Authority, part of the Dubai Land Department is a nodal agency that formulates, regulates, manages and licenses various real estates related activities in Dubai.

RERA envisages a transparent and effective regulatory environment in which various entities pertaining to real estate can conduct their business. As part of this vision, RERA would like to create an online community and marketplace thus enabling various categories of stakeholders to interact and transact with each other and with RERA

Department of Lands has a comprehensive set of applications to meet various business requirements and processes. These include  Geographical Information System (GIS), Registration systems for Agents and developers, Parcel Locator, e-Mortgage and website providing basic information. Many of the applications are home grown and provide rich business functionality. Land department applications are built around Microsoft  & Oracle technologies. Server infrastructure is in-house deployed and managed.

Dubai's RERA envisages a transparent and effective regulatory environment in which various entities.

Real Estate Regulatory AgencyCall Center : +971 - 4 - 222 - 1112
Fax No : +971 - 4 - 221 - 5533
   

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