Dubai: 30 Property Firms Slapped With Dh50,000 Fines For Violating Rules

fines for violating rules

In the latest crackdown, stunningly, 30 property companies are slapped with Dh50,000 fines for violating rules for flouting advertising laws outrageously. Are you wondering what made this enforcement so stringent? The fabulous Dubai luxury properties are simply irresistible. 

However, finding a way through the maze of advertising rules has been rather hard for the majority. To navigate through the details of this crackdown and the roadblocks awaiting those who do not comply with the rules we have to dive into them.

Scammers Using False Real Estate Ads In Dubai

Property firms fined

The fine offences of 30 real estate firms in Dubai levied by the regulatory authority last week were all about the violation of the given terms in the property ads. As a result of such a crackdown, we approached residents who fell into the trap of misleading advertising plastered all over social media

Many property sellers were seen to be luring potential renters with false property photos. A lot of Dubai citizens, including Jordanian national Mohammed Nael, discover that they have been cheated after paying money based on what they were promised online only. 

Mohammed narrates the story; he feels let down when the physical property he visited turned out different from the captivating online description.

Comparable Ads From Different Representatives

Unexpectedly for Mohammed, the online presentations and the gen-ness of things were argumentative. He found out that most real estate agents displayed appealing etc and so on.

Mohammed `passes on his` through describing how one of the agents offered to guarantee a property displayed on their social media platform and even sent a request for advance payment

Nevertheless, this raised suspicion and so he cautiously engaged with those enticing, but perhaps deceitful, practices.

Authorities’ Rules

RERA, acting as the regulatory arm of the Dubai Land Department (DLD), has introduced a package of terms governing advertisements in an effort to control the ad content as well as clamp down on wrongdoings in the real estate market

Real estate companies are instructed by the authority to stick to marketing regulations of the market and highlight the purpose of obtaining licenses for advertising to have the access to updated and authentic information for the clients. 

Rera as well requires a QR code on advertisements in order to aid investors in locating and authenticating all relevant property data. The Dubai authorities are constantly encouraging the property companies to strictly abide by advertising rules which shows that the commitment to transparency in the industry is real.

Nice Apartment, But Only In Photos

Faced with a similar problem , a Syrian man looking for a flat in November last year had a similar story. Having been with a developer since October, my family and I wanted to move to Dubai. Even though I investigated some 1 BHK apartments, none matched the pictures the agent provided.

 

Also Read:Best Ras Al Khaimah Developments For Buying Properties

 

Time, Money, And Effort Waste

Residents lauded the authorities’ efforts against deceitful advertisements, calling for continued website watchdog to avoid time wastage, energy and money loss. 

Syed Afeef, while giving his own account of the misery, narrated a two-month-long search for the desired property around City Centre Mirdif for his family. 

He lamented a real estate agent who posted alluring photos of a great 2 BHK apartment with an unbelievably affordable annual rent but found on inspection that the furnished accommodation did not even have a doormat.

Summing Up!

Dubai’s severe measures, fines for violating rules to 30 property firms Dh50,000 each for breaching the advertising rules highlight the government’s seriousness in promoting transparency and accountability in the property sector. 

Thus, we witness prevalence of the fraudulent practices here, while respondents telling about their stories on the deceitful ads. The agency’s demand of observing the advertising regulations and scanning the QR codes for house data validation as the key actions towards the regaining of trust. 

Dubai’s efforts towards a just and transparent real estate market have these fines act as very important deterrents with the message that such offenses will not be allowed, hence the interests of the investors and the residents are protected.

Frequently Asked Questions

How Much Is The Fee For RERA In Dubai?

The RERA (Real Estate Regulatory Agency) in Dubai charges a fee of AED 5,020 per activity for specified services registration. In order to begin the processing of licenses, the first and foremost important step is to obtain the RERA training certificate. 

This framework guarantees that the real estate professionals practicing in the Dubai real estate sector are highly-qualified and familiar with the applicable requirements and standards.

What Are The Rules For Rent In RERA?

ERA -processes to control and manage rent prices in the real estate sector. The maximum amount by which a landlord is allowed to raise the rent in one year is dictated by their rules, and this amount is capped at 20%. 

This shows that, ordinarily, an annual rent increase should not exceed 20% for any property, consequently making it difficult for landlords to raise rents occasionally and at high rates.

How Do You Pass RERA?
Dubai real estate

To excel in the RERA exam, consider focusing on the following:

  1. Get a thorough knowledge of legislation and regulations concerning Dubai’s real estate.
  2. Discover trends at present that influence the real estate markets.
  3. Understand key financial concepts related to the fields of activity.
  4. Journey into the ethical norms/code of conduct that is upheld in the real estate industry.
  5. Be familiar with RERA’s objectives and guiding principles so as to be able to be in line with its mission.

What Is The Difference Between Dld And Rera?

The Real Estate Regulatory Agency (RERA) is an important regulatory body working under Dubai Land Department (DLD) It has a major role in the supervision and governance of developers, brokers, and other professionals in real estate operations in Dubai. 

The RERA exercises holistic supervision which involves ensuring compliance with established rules, looking after the interests of customers and promoting transparency and ethics in the real estate sector.

 

 

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