How Important is a Real Estate Licence RERA Approved?

Real Estate Licence RERA Approved

According to Business Matters magazine, Dubai’s property sales in 2021 totalled an incredible AED 177 billion. This upward trend is anticipated to continue through 2022, with experts anticipating record sales this year. Getting approval from the Real Estate Regulatory Agency (RERA) is critical for businesses looking to enter this exciting and rapidly expanding market. So, what is RERA, and how does one obtain a RERA licence in Dubai?

In Dubai, what is RERA?

The Real Estate Regulatory Agency of Dubai (RERA) is a regulatory organisation within Dubai’s land department. It regulates Dubai’s real estate market by establishing a legal framework for all parties involved in the industry and enforcing the laws.

The purpose of the authority is to ensure that the real estate market runs smoothly, fairly, and efficiently, and that everyone involved in the industry observes the rules and adheres to the standards. His Highness Sheikh Mohammed bin Rashid Al Maktoum launched it in 2007.

More About It

RERA ensures that the real estate industry is considerably better regulated than it was previously, and it creates a level playing field in which all firms, consumers, and buyers are aware of the rules. It also implies that if firms or real estate brokers in Dubai have any issues or concerns, they can go to RERA for more information and clarification on the rules.

Different Enterprises Regulated By RERA

The following types of enterprises are regulated by RERA:

  • Mortgage consultancies, real estate brokerages, and leasing companies
  • Consultancies in real estate
  • Companies that handle real estate
  • The purchase and sale of real estate
  • Businesses in Dubai that provide real estate services
  • Any type of real estate inspection service in Dubai
  • Promotion and advertising for real estate
  • Owners’ organisations
  • Any type of real estate inspection service in Dubai
  • There are numerous additional parties involved.

If you want to start a real estate firm in Dubai, you must first obtain a RERA licence using the Trakheesi system. Our advisers at meydan free zone can help you file your application online and will be there for you every step of the way.

Dubai’s RERA Duties

In Dubai, RERA is responsible for a wide range of issues. Among these responsibilities are:

  • Real estate agents must be licenced.
  • All real estate-related businesses and organisations must be licenced.
  • Rental agreements, advertising, and real estate exhibits are all regulated.
  • Developing the real estate industry.
  • Creating sector-related studies and reports.

The good news is that the procedure is usually quick and painless, especially with the help of professionals.

Bouncy Seed

Previous article

Austin Employment Law Attorney | Why Reach out? 

Next article

You may also like


Comments are closed.

More in Business