Why Invest in Dubai Real estate market
December 2, 2023The Dubai Land Department (DLD) handles all matters related to the registration of sales and purchases of land, in addition to approving, organizing, and documenting transactions concerning registered land and real estate in Dubai.
Today, the DLD offers more than 26 main services and 216 sub-services to customers in the real estate sector, including land and title registration, registration and licensing of real estate professionals, and developing a regulatory framework to attract and effectively manage investments in the real estate sector, while disseminating awareness and knowledge on applicable legislation.
Furthermore, the DLD compiles and publishes, on its website, information about real estate purchase and sale transactions on a weekly and monthly basis to allow investors to keep track of current real estate prices in Dubai.
Real Estate Registration Agency (RERA) – Regulatory Arm
Aiming to provide an investment-friendly environment based on international best practices that safeguard the interests of all stakeholders in the real estate market, the Real Estate Regulatory Agency (commonly known as “RERA”) was established in 2007 to put legal frameworks and mechanisms in place and regulate the activities of real estate development and brokerage companies and owners associations.
RERA monitors all development projects on a financial and technical level to protect the broader interests of the market and investors alike. RERA also plays an active role in monitoring the compliance of developers, brokers, and other licensed real estate professionals with applicable laws and regulations and imposing penalties for violations, including cancellation of stalled projects.
Real Estate Investment Management and Promotion Center -Investment Arm
The Real Estate Investment Management and Promotion Center is the investment arm of the DLD, responsible for supporting local and foreign real estate investment companies and developing a regulatory environment for real estate investment while enhancing market activity through the promotion of direct and long-term investments.
It also plays an active role in promoting a stable and secure environment while contributing to creating a green economy to achieve sustainable development.
1 Comment
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