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DLD continues with its efforts to ensure the safety of investments

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The Real Estate Regulatory Agency (Rera) at the Dubai Land Department (DLD) has implemented inspection campaigns to verify advertising permits and ensure that the various parties adhere to the circulars and laws in force in the Emirates and, during the aforementioned campaigns, 10 real estate companies have been fined and another 30 cautioned for not adhering to the advertising requirements.

The DLD has clarified that each sanction is assessed at a progressive Dh50,000 and could even lead to the cancellation of the real estate company’s license in case of violation.

Violations committed can be of three types: violations by companies that have not obtained advertising permits, manipulation of the use of advertising authorization numbers, and use of expired permits.

The efforts of the DLD are aimed at maintaining a safe and legal investment environment for practicing real estate in the emirates, to improve performance efficiency and advance this sector to wider levels.

In addition, to ensure accurate information, Rera regularly launches circulars and campaigns that provide advice and cautionary guidance when dealing with various forms of advertising, in particular fake and unlicensed advertisements posted on electronic platforms and social media channels.

Elaboration made by IICUAE on source Khaleej

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