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DLD Fines 10 Real Estate Companies and Warns Another 30 for Not Adhering to Advertising Requirements
 
DLD Fines 10 Real Estate Companies and Warns Another 30 for Not Adhering to Advertising Requirements
• The fines are progressive and start from AED 50,000
• RERA urges those wishing to own property to verify the advertisement sources and licences before proceeding and paying any money
 
Dubai, UAE, 20 October 2020: The Real Estate Regulatory Agency (RERA), at Dubai Land Department (DLD), has implemented inspection campaigns aimed at auditing advertising permits and ensuring that various parties adhere to the circulars and laws enforced in the emirate. During the aforementioned campaigns, RERA fined 10 real estate companies and warned 30 others for not adhering to the advertising requirements.
 
DLD clarified that each fine is valued at a progressive AED 50,000, stressing that it may reach the stage of cancelling the licence of the violating real estate company. The violations committed comprised three types: violations by companies that did not obtain advertising permits, manipulation of the use of advertising permit numbers, and the use of expired permits.
 
DLD’s efforts are within the framework of its constant and continuous endeavour to maintain a safe and legal investment environment for practising real estate activities in the emirate, in line with the directives of the wise leadership to enhance performance efficiency and advance this sector to expanded levels.
RERA regularly launches circulars and campaigns that provide cautionary counsel and guidance for when dealing with various forms of advertisements, especially fake and unlicenced ads that are posted on electronic platforms and social media channels. As part of its continuous efforts to confront this phenomenon, RERA previously launched a real estate ad permits service on the Trakheesi system on DLD’s website.
 
Under the service, all real estate companies and establishments operating in Dubai and wishing to publish any real estate advertisement in the emirate are required to apply for a permit through the Trakheesi system on DLD’s official website. The advertiser will bear the consequences of the legal procedures if the permit number is not placed in the advertisement.
 
RERA also called on customers and investors to verify all documents and request data and information from brokers about the offered property. Customers can now easily verify the licensed brokers, as well as the validity of real estate property data, through the Dubai REST smart application – Dubai Brokers page.
Ali Abdulla Al Ali, Director of the Real Estate Licensing Department at DLD, said: “RERA is keen to ensure that all companies adhere to real estate permits and that customers are being provided with the best services. The main objective of this campaign is not limited to violating companies; it also seeks to preserve the rights of all parties, provide quality services, and limit false advertisements. In doing so, we encourage brokers to adhere to the rules and regulations, which will lead to a reduction in complaints we receive. We are committed to providing information easily and conveniently to customers, ensuring their happiness and helping them make the right decisions.”
 
RERA requires real estate companies to obtain permits before launching any real estate marketing campaign and to include the permit number in all real estate ads. In addition, companies must display their advertisements according to the conditions approved in the permit as well as obtain final approvals from other concerned authorities. As for the websites concerned with real estate ads, they are to be associated with is a link to ensure that the displayed ads adhere to the permit conditions.
 
RERA also urges its customers to familiarise themselves with all the procedures, read contracts with extreme accuracy, and seek the assistance of legal experts to verify the terms of the contracts before signing them. If the project is off-plan, it must be ensured that it is licenced and that no amounts are paid outside the escrow account. RERA encourages customers to get in touch for any enquiries, especially as DLD is providing several communication channels, including the call centre, instant chat on DLD’s website, social media channels, and Dubai REST application that would help customers to make their decisions based on verified information that is consistently being updated.


Posted by : Dubai PR Network Editorial Team
Viewed 6698 times
PR Category : Government, Legal & Humanity
Posted on : Tuesday, October 20, 2020  3:15:00 PM UAE local time (GMT+4)
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