Brokers told to display registry numbers

Dubai: Regulators warned 23 real estate brokerages they could face fines of up to Dh50,000 for failing to display their registration numbers in advertisements they place in the media.

The Real Estate Regulatory Authority (Rera), the regulatory arm of the Land Department in Dubai, said that many companies do not include their registration numbers in their newspapers, magazines and website advertisements or e-mail messages.

Yousuf Al Hashemi, Director of Licensing at Rera, stressed that all the advertising campaigns for real estate projects must adhere to the regulations.

The first and foremost of these condition is to obtain an official written permit from Rera documenting the details of these campaigns in order to protect the rights of all parties.

Al Hashemi explained that Rera has issued a circular to all real estate brokerage firms to follow the terms for real estate advertisements by publishing their office registration number and the broker registration number issued by Rera in all published advertisements in the media.

Al Hashemi added that Rera conducts daily media follow-up through which 23 violations were recorded.

Administrative fine

"In case these firms do not adhere to the circular and warning, they will be considered a violation of the licensing terms issued by Rera. Rera will impose an administrative fine of Dh50,000 against firms that commit violations and will take the required legal action against these entities if they do not follow the conditions and laws," said Sultan Al Suwaidi, Section Manager at the Real Estate Permits and Inspection Section.