The Dubai Land Department has introduced new regulations for real estate developers and agents with regards to advertising properties in the emirate.
Under the new rules, in place since October 1, developers and brokers will need to receive approval from Dubai’s Real Estate Regulatory Authority (RERA) before they place any property advertisement in the media.
The move is aimed at cracking down on fraudulent property advertising in Dubai and to increase transparency in the market.
According to officials, the permit will take a maximum of two days to be processed – depending on all the documentation being presented by the developer or broker (details below).
The permit will be valid for three months and the permit number will also need be to highlighted in the advertisement.
RERA officials clarified that the rule also applies to international properties being marketed in the emirate, in case the advertisement includes details about a local broker or agent. In case the advertisements do not feature details about local representation, they will be exempt from the ruling. More info
By Aarti Nagraj gulfbusiness.com