Dubai's real estate regulatory authorities have imposed penalties on companies that violate property advertising regulations in the emirate.
The Real Estate Regulatory Agency (RERA), operating under the Dubai Land Department (DLD), underscores the importance of strict adherence to the terms and conditions outlined for real estate advertisements. This entails furnishing accurate information to clients by obtaining proper advertising licenses.
Furthermore, it is mandatory for real estate advertisements to include a QR code, facilitating investors in verifying all associated property details. The imposition of fines on 30 real estate firms by the Real Estate Regulatory Agency reflects their failure to comply with the stipulated terms and conditions, aimed at regulating advertisements and curbing detrimental practices within the industry.
Ali Abdullah Al Ali, Director of the Real Estate Control Department at RERA, has highlighted the agency's vigilant monitoring of real estate advertisements and market activities. Consequently, 30 violations were identified, with each company facing a fine of AED50,000 ($13,600) for contravening RERA directives. Prior to this, the agency had issued circulars and warnings to underscore the provisions and requirements of real estate advertising, ensuring compliance.
Ali Abdullah Al Ali underscores the ongoing dedication of the Real Estate Regulatory Agency to enhancing transparency in the real estate sector, delivering exceptional services to stakeholders, protecting the rights of all parties, and promoting sustainability in the sector's development. This dedication aligns with the DLD's strategy to become a global leader in real estate investment, focusing on seamless service provision, effective legislation, data integration through partnerships, cutting-edge digital infrastructure, and the empowerment of human capital.
In order to ensure compliance with the agency's directives, rules, and regulations, Ali Al Ali stresses the significance of ongoing training or the acquisition of knowledge through training courses. He implores firms to continually follow these guidelines. Ensuring compliance is essential for maintaining a safe, stable, and environmentally friendly environment, which in turn improves DLD's customers' experience. Furthermore, he strongly suggests that people not interact with real estate ads that do not have the necessary licenses and QR codes.