Wednesday, 27 September , 2017     |     661      |      +      |     

Dubai issues 8,500 real estate permits in new ads crackdown

Dubai issues 8,500 real estate permits in new ads crackdown :
  • Gulf News

Dubai Land Department (DLD) has announced that it issued a total of 8,500 permits to advertise and promote real estate projects in the emirate over the past 12 months.

The government body said it would continue to regulate closely the increase in real estate ads expected in the run-up to Expo 2020 in a bid to protect buyers from bogus claims.


Last year, DLD announced that all property adverts must be signed off by Dubai’s real estate regulatory department before going live under new rules to improve transparency in the sector.

Among the 16 categories of real estate permit issued by the Real Estate Regulatory Agency (RERA) over the past year, e-advertising permits ranked in first place with 6,393 issued followed by classified ads with 517, billboards with 302 and newspaper ads with 289.

There was also significant activity for real estate promotion stands with 150 permits issued in addition to 141 permits for vehicle advertising, 128 permits for printed advertisements, 244 permits for outdoor advertising and 219 permits for text messages.

Ali Abdullah Al Ali, senior director of the Real Estate Licensing Department at RERA – the regulatory arm of DLD – said: “The primary purpose of regulating real estate ads is to protect our customers from any illegal advertisements while also ensuring transparency and credibility in the real estate sector.

“The significant increase in the number of permits we have issued from year to year reflects the sustained growth of the real estate sector and the momentum it is building in the run up to Expo 2020.”

http://www.arabianbusiness.com/

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Category: #Gulf News, #UAE | 2017/09/27 latest update at 9:00 PM
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