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DLD fines 10 realty firms, warns 30

October 22, 2020
real estate

The DLD clarified that each fine is valued at a progressive Dh50,000.

The Real Estate Regulatory Agency (Rera) at the Dubai Land Department (DLD) has implemented inspection campaigns aimed at auditing advertising permits and ensuring that various parties adhere to the circulars and laws enforced in the emirate. During the aforementioned campaigns, Rera fined 10 real estate companies and warned 30 others for not adhering to the advertising requirements.

The DLD clarified that each fine is valued at a progressive Dh50,000, stressing that it may reach the stage of cancelling the licence of the violating real estate company. The violations committed comprised three types: violations by companies that did not obtain advertising permits, manipulation of the use of advertising permit numbers, and the use of expired permits.

The DLD's efforts are within the framework of its constant and continuous endeavour to maintain a safe and legal investment environment for practising real estate activities in the emirate, in line with the directives of the wise leadership to enhance performance efficiency and advance this sector to expanded levels.

Rera regularly launches circulars and campaigns that provide cautionary counsel and guidance for when dealing with various forms of advertisements, especially fake and unlicenced ads that are posted on electronic platforms and social media channels.

khaleejtimes

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