Department assigned to handle real estate compliance in Dubai
A division within the Department of Economic Development will oversee whether real estate facilities in Dubai are in compliance with existing laws. The Commercial Compliance & Consumer Protection (CCCP) will conduct field inspections of all such properties licensed by the Real Estate Regulatory Agency.
This follows a new agreement signed by Dubai Land Department and Department of Economic Development. The two will coordinate to impose fines in the case of any violation of the regulations in force. The Land Department will provide all the data and information necessary for inspection, supervision and follow-up of the licensed real estate facilities.
It will provide CCCP’s team with all the directives, decisions and memos issued to real estate companies in Dubai, which clarify the clauses on violations. The compliance and consumer protection division will organise awareness campaigns for the targeted parties in the first phase.
“The agreement supports our objective to protect the rights of investors,” said Marwan Ahmad Bin Galita, CEO of RERA. “It will have a significant impact by ensuring that companies comply with the laws and reduce the likelihood of negative practices in the real estate market.
This will establish an atmosphere of trust in the real estate market, while improving the integration of government agencies.”
All rights reserved to the initial publisher for Gulf News
Collected and published by Arms &McGregor International Realty® editorial team. Get in touch with us at [email protected]