What is RERA in Dubai

What is RERA in Dubai – Makebiz

The Real Estate Regulatory Agency or RERA is a real estate regulatory agency established in 2007 in response to the economic growth of this area. It is a subdivision of the Dubai Land Department, which creates a regulatory framework for the real estate market. 

The organization aims to protect the interests of all participants in the process of buying and selling housing, providing a comfortable environment for mutually beneficial cooperation between developers and buyers, brokers and tenants. 

Among the main tasks of RERA are:

  • accreditation of financial institutions responsible for control and management of developers’ accounts;
  • exercising control over all types of real estate advertising;
  • informing the public about their rights in this area;
  • ensuring a balance between supply and demand in the market, through the implementation of certain policies;
  • issuing permits and licenses for real estate related activities.

RERA has developed strict regulatory requirements for real estate developers to protect the rights of investors and buyers and ensure quality realization of the construction project. 

RERA has also prepared certain rules for drafting a lease agreement that simplify the interaction between the parties. The agency also conducts training for brokers in order to improve the quality and efficiency of their work. Issuance of a license to them allows a potential buyer or tenant to make sure that the broker or real estate agency is competent before starting cooperation. 

Thus, RERA provides transactions with transparent and safe conditions, simplifies the process of buying and renting housing, improves the quality of construction, thanks to strict supervision of each stage by the agency.

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