Dubai: The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), warned real estate brokerage firms in the emirate to update their advertisments within three days to avoid penalties.
The authority said that scheduled inspections of online real estate portals had revealed several listings of properties that were already sold and rented, and off the market.
RERA said that all real estate firms and brokers should update the listings and remove any unavailable properties from all online portals.
Once removed or updated, the real estate companies are also required to send an email to the regulatory authority confirming the update.
RERA added that violators would be fined. This warning is in line with RERA’s recent measures to enhance transparency in the real estate sector.
Advertising rules for real estate
According to RERA, real estate companies must provide accurate information to customers and obtain required advertising licenses. Additionally, all real estate ads must include a QR code to enable investors to identify and verify all associated property data advertised.
The authority fined 30 companies in February for violating these rules, at Dh50,000 each.
These rules are established to govern advertisements and curb negative practices within the industry, RERA added.
