Rera warning to Dubai's property brokerages
The Real Estate Regulatory Authority (Rera), the regulatory arm of Land Department in Dubai, has issued warnings to 23 real estate brokerage companies for not adhering to Rera's terms and regulations.
The warnings were issued after Rera's Permits Section of the Real Estate Licensing Department, which monitored and registered violations committed by some firms through their advertisements in the media. The companies did not indicate their registration numbers issued by Rera in the advertisements published in newspapers, magazines and websites or distributed via e-mails.
Yousif Al Hashimi, Director of Real Estate Licensing Department in Rera stressed that all the advertising campaigns for real estate projects must adhere to the regulations. The first and foremost of these condition is to obtain an official written permit from Rera documenting the details of these campaigns in order to protect the rights of all parties.
Al Hashimi explained that Rera has issued a circular to all the real estate brokerage firms to follow terms for real estate advertisements by publishing their office registration number and the broker registration number issued by Rera in all the published advertisements in all media channels. Al Hashimi added that Rera conducts daily media follow-up through which 23 violations were recorded.
Sultan Al Suwaidi, Section Manager at the Real Estate Permits and Inspection Section said, "In case these firms do not adhere to the circular and warning, they will be considered a violation of the licensing terms issued by Rera in accordance to the Executive Council's Resolution No. 25 of 2009 approving fines and fees. Rera will impose an administrative fine of Dh50,000 against firms that commit violations and will take the required legal action against these entities if they do not follow the conditions and laws.
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