The Real Estate Regulatory Agency (RERA), the regulatory body overseeing Dubai’s real estate sector under the Dubai Land Department (DLD), has issued a warning to real estate brokerage firms in the emirate. They are urged to promptly update their advertisements within a three-day window to avoid penalties.
Following scheduled inspections of online real estate platforms, RERA uncovered numerous listings showcasing properties that were already sold, rented, or otherwise off the market.
In response, RERA emphasizes the importance of all real estate firms and brokers updating their listings, ensuring that unavailable properties are promptly removed from all online portals.
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Upon updating or removing listings, real estate companies are instructed to notify the regulatory authority via email to confirm the changes. RERA underscores that failure to comply will result in fines, aligning with recent efforts to bolster transparency in the real estate sector.
Advertising rules for real estate in Dubai
RERA mandates that real estate companies furnish accurate information to customers and secure the necessary advertising licenses. Furthermore, all real estate advertisements must incorporate a QR code, facilitating investors in verifying associated property data.
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In February, RERA levied fines of Dhs50,000 each on 30 companies found in violation of these regulations. These measures are implemented to regulate advertising practices and deter unethical conduct within the industry, as stated by RERA.
tanvir@dubainewsweek.com
