Real Estate Regulatory Agency

Dubai real estate market is a sucess story rarely seen in modern times and to maintain a healthy property market in Dubai regulation was enevitable. The biggest  move toward greater regulation of the Dubai real estate  market was the introduction of the Real Estate Regulatory Agency or RERA .

So who are RERA? It is a government agency that has its own financial and administrative independence with full legal authority to regulate the real estate sector in Dubai. It was launched on the 31st of July 2007 by His Highness Sheikh Mohammed Bin Rashed Al Maktoum, vice president and Prime Minister Ruler of Dubai, as a part of the Dubai Land Department.

Since its inception the agency has been very busy and it seems to me that each move has made buying property in Dubai even safer. This is despite the fact that some regulations may slow the movements of investors keen to make a quick buck.

RERA is now responsible for 

• Licensing all real estate activities.
• Managing real estate developers' trust account.
• Licensing and organizing real estate agents.
• Regulating and registering rental agreements.
• Regulating and supervising the owners associations.
• Regulating real estate advertisements in the media.  
• Regulating and licensing real estate exhibitions.
• Publishing official research and studies for the sector.
• Enhancing national participation in the real estate sector.
• Increasing real estate awareness.

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