Over the last year, Dubai brokers have conducted more than 32,000 real estate transactions amounting to a total of AED 1.52 billion.
Dubai authorities take it really serious, when it comes to legal issues in real estate transactions field, for providing a secure and safe environment for property investors is among the emirate’s utmost priorities. For this sake, Dubai Land Department, responsible for all operations in this domain, regularly introduces new initiatives and monitors laws compliance.
A new report issued recently by DLD, has reminded that buying, selling, renting and leasing real estate in Dubai is allowed only through officially registered brokerage offices accredited by and holding a real estate broker card issued by the department.The report also says that over the last year, 2,285 registered brokerage offices and a number of individual brokers performed 32,932 real estate transactions worth AED 1.52 billion (USD414 million) in total.
Yousif Al Hashimi, deputy CEO of Real Estate Regulatory Agency (RERA) the regulatory arm of DLD, noted that the Department aims to create a secure and sustainable real estate environment for buyers and investors in Dubai real estate, and dealing with licensed and certified brokerage agencies, like IMEX Real Estate, is crucial for completing this mission.
“Dealing with registered and certified real estate brokers is central to achieving this, and to guarantee their rights, customers and investors must take great care in verifying the accuracy of ownership data for all property before entering into buying, selling and leasing activities,” Hashimi said.
Hashimi has also reminded brokers of the DLD’s recent innovation, Dubai Brokers smart application, which allows parties to enter ownership data and verify its accuracy for all properties.
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