JobXDubai

In a move to maintain the highest standards in Abu Dhabi’s real estate sector, authorities have cracked down on non-compliant real estate agents. During the first quarter of this year, 50 fines were issued against brokers who violated real estate rules and regulations.

Unregistered project marketing and failure to adhere to professional conduct were among the reasons for the penalties. Furthermore, the Abu Dhabi Real Estate Centre (ADREC) suspended seven real estate brokers from practising, and their brokerage office was fined Dh30,000 for failing to adhere to professional conduct.

ADREC prioritises lawful practices, ensuring that the real estate sector in Abu Dhabi operates with transparency and accountability. This decision follows Dubai’s regulatory authority’s clampdown on property firms to ensure strict adherence to rules related to advertisements.

In February, the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department (DLD), established terms and conditions to govern advertisements and curb negative practices within the industry. Thirty real estate companies were fined Dh50,000 each for failing to comply with the terms and conditions specified in real estate advertisements.

The UAE’s real estate sector is undergoing a significant transformation, and these measures aim to promote a fair and transparent market for all stakeholders involved. Stay informed about the latest developments in the UAE’s real estate market.