Dubai's RERA warns 23 brokerage firms over ad violations

Real estate regulator says companies face fines of AED50,000 for breaking rules
Dubai's RERA warns 23 brokerage firms over ad violations
Dubais real estate regulator has issued warnings to 23 brokerage firms
By Andy Sambidge
Sun 18 Dec 2011 06:07 PM

Dubai's real estate regulator said on Sunday that it has issued warnings to 23 brokerage firms for breaching rules.

The Real Estate Regulatory Authority (RERA), the regulatory arm of Land Department in Dubai, said the warnings were issued after RERA's Permits Section found violations in company advertisements in the media.

The organisation said companies faced fines of AED50,000 for the violations.

The companies did not indicate their registration numbers issued by RERA in the advertisements published in newspapers, magazines and websites or distributed via e-mails, RERA said in a statement.

Yousif Al Hashimi, director of Real Estate Licensing Department in RERA, said RERA has issued a circular to all the real estate brokerage firms concerned telling them they must publish their office registration number and the broker registration number in all ads.

Sultan Al Suwaidi, section manager at the Real Estate Permits and Inspection Section of RERA,  said: "In case these firms do not adhere to the circular and warning, they will be considered a violation of the licensing terms issued by RERA.

"RERA will impose an administrative fine of AED50,000 against firms that commit violations and will take the required legal action against these entities if they do not follow the conditions and laws."

Al Suwaidi called on investors who wish to purchase housing units to be cautious when dealing with commercial advertisements that promote property sale by checking the broker registration number and the office registration number issued by RERA.

RERA said it is working to create a "professional real estate environment governed by clear laws and regulations for all relevant parties in the Emirate of Dubai".

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