According to an information release, the Real Estate Regulatory Agency (RERA) in Dubai has fined thirty actual property businesses for breaking regulations regarding advertisements.
AED 50,000 Fine Each for 30 Firms
RERA highlighted that real property corporations should abide by the stipulated phrases and situations for actual estate classified ads.
The declaration stated that the 30 actual estate corporations were fined AED 50,000 every for breaching the policies targeted for actual estate commercials.
According to RERA, real property companies want to provide correct information to customers and acquire the desired licenses for advertising. Additionally, all actual property advertisements ought to have a QR code to assist buyers verify the belongings statistics.
Rules to Govern Ads, Curb Negative Practices
These regulations are in place to govern real estate ads and curb unacceptable practices in the industry, RERA added.
Ali Abdullah Al Ali, Director of RERA’s Real Estate Control Department, said they closely monitored ads and market activities.
“As a result, 30 violations were identified among real estate firms, with each violator incurring an AED 50,000 fine for not complying with RERA’s directives,” he stated.
Previous Warnings Issued on Advertising Rules
The agency had earlier released circulars and warnings to stress the provisions and requirements for real estate ads, aiming to promote compliance.
Ali Abdullah Al Ali further added that RERA remains dedicated to enhancing transparency and delivering high-quality services in Dubai’s real estate market. This aligns with the Dubai Land Department’s goal of becoming a global real estate investment leader.
Urging Ongoing Compliance by Firms
Ali Al Ali urged real estate companies to consistently follow RERA’s instructions, regulations, and laws. He said this can be achieved through regular training and acquiring information from educational courses. Such compliance is vital for a stable, sustainable real estate environment that improves customer experience.
He also advised the public to avoid engaging with any real estate ads without a permit and QR code.
