New rules for property ads in Dubai
Dubai's Land Department has introduced new regulation for real estate developers and agents regarding the advertising of properties in the emirate.
Under the new rules introduced last month, developers and brokers must receive approval from Dubai’s Real Estate Regulatory Authority ( RERA) before placing 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. The permit will be valid for three months and the permit number will need be to highlighted in the advertisement.
RERA officials clarified that the rule also applies to international properties being marketed in the emirate if the advertisement includes details about a local broker or agent. If the advertisements do not feature details about local representation, they will be exempt from the ruling.
Property developers or agents found violating the rule will face a fine of up to Dhs 50,000. However, publishers who feature the adverts will not be penalised.
Andrew Thomson, a real estate partner at the Dubai office of law firm Gowling WLG, said: “Despite a number of criticisms that these rules will create unnecessary red tape, they are to be welcomed as a necessary protection for both buyers and real estate agents.
“Rogue practices are, unfortunately, regularly employed by a small minority to the detriment of those that behave ethically and legally as a matter of course.
“Providing a safety net with which to filter out this minority is therefore key to protecting the status of Dubai as a clear front runner in the global property market.”
He added: “The rules around noncompliance are unlikely to be that flexible so checking this now should be a core priority for all concerned.”