What To Know
- As a measure to maintain and demonstrate commitment towards checking on the regulatory framework set within the real estate industry the Dubai Land Department (DLD) has released information relating to findings and actions carried out for the first half of the year 2024.
- Pinning down his words, Ali Abdullah Al Ali, Director of the Real Estate Control Department at RERA, stressed the efficacy of these operations in the given sphere for the promotion of market transparency and the protection of the rights of investors and customers.
- Al Ali invited all real estate brokers and companies dealing with the sector to abide strictly by the guidelines of the DLD to ensure that the proper market development is achieved while at the same time the public ought to deal only in properties advertised by the department.
As a measure to maintain and demonstrate commitment towards checking on the regulatory framework set within the real estate industry the Dubai Land Department (DLD) has released information relating to findings and actions carried out for the first half of the year 2024. Its purpose is to stabilize the field and press for laws that would improve the appeal of Dubai’s market.
The Real Estate Control Department, which is a part of DLD, claimed that it has carried 450 filed inspection tour in companies and Real Estate projects and 1530 inspection in related adverts. The extensive check led to the giving of more than 1,200 legal notices and fines for 256 brokers who did not adhere to the set advertising t&c.
Pinning down his words, Ali Abdullah Al Ali, Director of the Real Estate Control Department at RERA, stressed the efficacy of these operations in the given sphere for the promotion of market transparency and the protection of the rights of investors and customers. The fines and the warnings are part of the continuing operations which are suppose to ensure that the market remains free from activities which are in most cases against the law.
However, to make the work on compliance and monitoring more efficient, DLD is preparing to use artificial intelligence (AI) for ad monitoring, and its official use will start soon. This sophisticated stream of work is expected to enhance the management of the control process and reduce the occurrences of instances concerning the advertising of real estate companies.
In addition, Al Ali invited all real estate brokers and companies dealing with the sector to abide strictly by the guidelines of the DLD to ensure that the proper market development is achieved while at the same time the public ought to deal only in properties advertised by the department. This initiative reechoes DLD’s mandate of implementing and maintaining stable and appealing property market in Dubai through effective regulation and the use of innovation.
