Dubai Land Department, DLD, has announced that it issued a total of 8,500 real estate permits from the outset of August 2016 to the end of August 2017.
Among the 16 categories of real estate permit issued by the Real Estate Regulatory Agency, RERA, E-advertising permits ranked first with 6,393, followed by classified ads with 517, billboards with 302 and newspaper ads with 289.
There was also significant activity for real estate promotion stands with 150 permits issued in this category, in addition to 141 permits for vehicle advertising, 128 permits for printed advertisements, 244 permits for outdoor advertising and 219 permits for text messages.
Ali Abdullah Al Ali, Senior Director of the Real Estate Licensing Department at RERA, the regulatory arm of DLD, said, “The primary purpose of regulating real estate ads is to protect our customers from any illegal advertisements while also ensuring transparency and credibility in the real estate sector. The significant increase in the number of permits we have issued from year to year reflects the sustained growth of the real estate sector and the momentum it is building in the run up to Expo 2020.”
The procedures followed by the Real Estate Licensing Department at RERA help to reduce negative practices and preserve the positive reputation of the emirate’s real estate sector on the global stage.
[Source: Emirates 24/7 News, Sept 26, 2017]