Realty ads to be regulated
The Dubai Government is set to issue a directive to regulate advertising about real estate projects in a bid to prevent incorrect information campaigns and misleading claims being made in different media.
Officials at the Real Estate Regulatory Agency (Rera) in Dubai said the organisation was due to issue within the next few days, the Real Estate Advertisement Promotion List. The move is in line with measures carried out by Rera to reconstruct and regulate the real estate market to help build an atmosphere of confidence in the real estate market.
Marwan bin Ghalita, Chief Executive of Rera, said the list would clarify measures, documents and requirements that should be provided by a property developer before displaying an advertisement in different media. He said such measures would prevent any incorrect advertisements or promotion of projects not registered with the Dubai Government.
Bin Ghalita said newspapers and audio-visual media should play a role in monitoring property firms’ ads to ensure the identity of the advertiser is correct and the information is reliable.
He said that there are 410 real estate development companies in Dubai.
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