The Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) focusing on establishing a mechanism for monitoring and inspecting real estate facilities licensed by RERA.
The MoU was signed with the Department of Economic Development (DED) in Dubai through the Real Estate Regulatory Authority (RERA), DLD’s regulatory arm.
Under the agreement, the Commercial Compliance & Consumer Protection (CCCP) sector in DED will monitor and inspect real estate facilities licensed by RERA to ensure compliance with applicable laws and regulations.
The MoU was signed by HE Marwan Ahmed bin Ghalita, CEO of RERA, and Mohammed Ali Rashid Lootah, CEO of CCCP, and in the presence of HE Sultan Butti bin Mejren, director general of DLD, and HE Sami Al Qamzi, director general of DED.
Bin Ghalita said: “The signing of the memorandum, which authorises CCCP to carry out the field inspections of real estate companies, stems from our keenness to ensure compliance with the laws and legislations for the practice of real estate activities.
“The agreement also supports our strategic objective to protect the rights of investors, because it will have a significant positive 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 also improving the integration of government agencies and harnessing all expertise and possibilities to enhance trust among real estate investors,” he added.
Lootah said that CCCP conducts field inspections of commercial facilities to ensure compliance with regulatory requirements, protect owners of trademarks and commercial agencies in accordance with international standards, and provide the best services that contribute to supporting traders and consumers.”
Under the MoU, the two parties will coordinate to issue and impose fines in the case of any violation of the regulations in force.
DLD will provide all the data and information necessary for inspection, supervision and follow-up of the licensed real estate facilities, and CCCP will organise awareness campaigns for the targeted parties in the first phase.
DLD will provide CCCP’s team with all the directives, decisions and memos issued to real estate companies in Dubai, which clarify the clauses of the violations and the mechanisms of their application.