Search DubaiPRNetwork.com

Dubai and UAE
Home >> Real Estate and Construction

DLD fines 30 real estate companies for failing to comply with the terms and conditions specified in real estate advertisements

DLD fines 30 real estate companies for failing to comply with the terms and conditions specified in real estate advertisements

Tuesday, August 6, 2024/ Editor -  

Share

Home >> Real Estate and Construction

Dubai, United Arab Emirates, 8 February 2024: The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), emphasises that all real estate companies must adhere to the terms and conditions stipulated for real estate advertisements; this includes providing accurate and correct information to customers by obtaining advertising licenses. Additionally, it is obligatory to include a QR code to enable investors to identify and verify all associated property data advertised.

This resulted from the Real Estate Regulatory Agency fining 30 real estate companies for failing to comply with the terms and conditions specified in real estate advertisements, which are established to govern advertisements and curb negative practices within the industry.

Ali Abdullah Al Ali, Director of the Real Estate Control Department at RERA, highlighted that the agency has closely monitored real estate advertisements and market activities. As a result, 30 violations were identified among real estate companies, each incurring a
AED 50,000 fine for non-compliance with RERA directives. The agency had previously issued circulars and warnings to emphasise the provisions and conditions of real estate advertising and ensure compliance.

Ali Abdullah Al Ali emphasised the Real Estate Regulatory Agency’s ongoing dedication to enhancing transparency in the real estate sector, delivering top-notch services to stakeholders, safeguarding everyone’s rights, and fostering sustainability in the sector’s development and growth. This commitment is aligned with the DLD’s strategy of becoming the global leader in real estate investment. The strategy focuses on providing seamless real estate services, effective legislation, integrating data through partnerships, leading digital infrastructure, and empowering human capital.

Ali Al Ali urged all companies to consistently comply with the agency’s instructions, laws, and regulations. This can be achieved through continuous training or by acquiring information from training courses. Such compliance is essential to ensure a safe, stable, and sustainable environment that enhances the experience of DLD’s customers, He also encouraged the public not to engage with any real estate advertisement that does not have a permit and QR code.


Previous in Real Estate and Construction

Next in Real Estate and Construction


Home >> Real Estate and Construction Section

Latest Press Release

Must-Watch Movies to Kickstart the New Year on Asianet ME

UAE's GDP grows by 3.6 per cent in the first half of 2024

Climate change is increasing fire risks in the Middle East as experts to explore ...

Al Ansari Financial Services and Halan Partner to Pioneer Multiple Financing Ser ...

Top International and Regional Riders to Return to Abu Dhabi for 12th FBMA Inter ...

ADNEC Group Announces Collaboration with Tawazun Council as Strategic Partner fo ...

Dubai Customs Launches 'Customs Inspector Training Program' to Recruit 84 Emirat ...

RTA's 117th Open Auction for Number Plates Generates Over AED81 Million

Dubai Land Department to Unveil Revolutionary Smart Rental Index in January 2025

Response Plus Medical provides comprehensive medical coverage for MOTN Festival

RTA announces service timings during New Year's Holiday 2025

Real Madrid big winners at Globe Soccer Dubai Awards as Vinicius Jr, Ancelotti a ...

Dubai Calendar Reveals Unmissable January 2025 Events

10th Dubai International Project Management Forum attracts over 50 local and int ...

Scent-sational Gifting: Top 5 Ajmal Perfumes to Celebrate the Holidays

Dubai Marathon Teams Up With Guinness World Records

Dubai Customs launches AEO Connect 2024 A game-changer for global trade and busi ...

Dubai Free Zones Council Emphasizes Commitment to Support Dubai Economic Agenda ...

EGA finances US acquisition with green loan facility

Bafleh Jewellery Honored with Prestigious PRIMA DUTA AWARD by the Government of ...