Arab Today, arab today rera to sign off foreign property adverts in dubai
Last Updated : GMT 13:19:43
Arab Today, arab today
Arab Today, arab today

RERA to sign off foreign property adverts in Dubai

Arab Today, arab today

Arab Today, arab today RERA to sign off foreign property adverts in Dubai

Dubai - Arabstoday

A Dubai firm has won permission to advertise a development in Brazil to investors in the emirate, under new rules rolled out by the city’s real estate watchdog to vet foreign projects. Real estate agency BRIC Group is the first to secure approval under laws aimed at regulating firms advertising to Dubai-based investors, said RERA CEO Marwan bin Ghalaita. The agency requires companies to provide proof of ownership, masterplan designs and proof of licensing, signed by the UAE embassy in the respective country, to secure approval. Sam Rodgers, regional director of BRIC Group, said approval had boosted interest in its Brazilian project, which offers units starting from $32,000.“It has made a difference,” he said. “It is a big jump as RERA is a big word in this part of the world.”Rodgers said some Dubai firms had already been fined up to AED50,000 for advertising foreign developments without approval.Bin Ghalaita said the stamp did not mean RERA had endorsed the project, but that it had confirmed the company was a registered real estate agent approved to advertise units in Dubai.Dubai’s real estate watchdog has moved to crackdown on developers in the wake of a property collapse that saw house prices more than halve from their 2008-peak. RERA said in March that up to 90,0000 real estate units due to be delivered over the next five years could be scrapped if the projects failed to meet financial viability rules. Analysts said new rules monitoring companies advertising foreign developments would give confidence to investors, but hoped it would not divert attention from local issues. “My main concern here would be that if RERA is endorsing projects overseas, this will divert investors to invest outside Dubai,” said Priyesh Patel from Dubai-based brokerage Aston Pearl Real Estate. “In the current climate, just as the property market is recovering [in certain prime areas], we need investors to keep investing here not aboard. “RERA should focus on issues in Dubai.”An Arabian Business poll of analysts this month found house prices in Dubai are expected to slide a further 15 percent by the end of 2011 as fresh supply floods the market. From / Arabian Business News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rera to sign off foreign property adverts in dubai Arab Today, arab today rera to sign off foreign property adverts in dubai

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday