GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Bin Ghalita: The memorandum consolidates cooperation between government institutions and strengthens confidence in Dubai's real estate market

Lootah: We are keen to provide an appropriate economic environment for competitive economic activity in Dubai

Dubai, United Arab Emirates, 13th March 2018:  In line with its commitment to integrating government agencies and harnessing all expertise to enhance trust among real estate investors, the Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with the Department of Economic Development (DED) in Dubai through the Real Estate Regulatory Authority (RERA), DLD's regulatory arm.

The MoU focuses on establishing a mechanism for monitoring and inspecting real estate facilities licensed by RERA.

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 His Excellency Marwan Ahmed bin Ghalita, CEO of RERA, and Mohammed Ali Rashid Lootah, CEO of CCCP, and in the presence of His Excellency Sultan Butti bin Mejren, Director General of DLD, and His Excellency Sami Al Qamzi, Director General of DED.

His Excellency Engineer Marwan Ahmed 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.

This agreement will contribute to the realisation of DLD's vision to establish transparency and accountability in order to preserve the rights of all parties in a safe environment that operates under regulations and legislation respected by all.”

Bin Ghalita added: “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.”

Mohammed Ali Rashid Lootah commented: “The Commercial Compliance & Consumer Protection sector is keen to provide an economic environment suitable for competitive economic activity in Dubai in line with the strategic objective of the Department of Economic Development to promote growth across strategic sectors and support local as well as international businesses and investors.  

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.

”Lootah added: “Through this agreement, we will work to enhance investor confidence in the real estate sector, focusing on raising the quality of services, increasing business competitiveness, enhancing co-operation with consumers, and protecting their rights, all of which are critical to enhancing the ease of doing business and economic activity in Dubai.”

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. DLD is also committed to coordinating with DED regarding the use of technical systems between the two parties.



Posted by : GoDubai Editorial Team
Viewed 8070 times
Posted on : Tuesday, March 13, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : ADNEC reveals completion of preparations and readiness to host Special Olympics IX MENA Games Abu Dh...
Next Story : Ministry of community development launches a number of initiatives and events during the UAE Month o...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Ralph Lauren offers the spring 2019 collection
Tame your Tresses
Nothing says ‘I love you' quite like MKS Jewellery Valentine's Day Top Picks
Great offers this February on Glambeaute.com
Le Meridien Al Aqah Beach Resort Rolls out Fabulous Deals for February
Delightful Duo Of Elegant Timepieces Make For A Special Valentine Day's Gift
Mesmerizing Gift Sets and Perfume for Her
Valentine's Day Gifting Guide
Introducing Supergirl Make-Up
Kappa Exclusive Collection
GUESS Launches JEANS SS19 Collection for Women
GUESS Launches Kids Collection
Classic Smoky Eyes with Essence
Belt Bags from Longchamp
GROHE Is the Driving Force of the Digital Transformation in the Sanitary Sector ...
Real Madrid & Manchester City Collections
The Rado HyperChrome Ultra Light
Honor Gadget Gift Guide: Step Away from Anything that Wilts and Step up your Sma...
Chronoswiss Shows Off Twin Limited Edition Flying Grand Regulators
Amity University Dubai Hosts the World's Top AI Researchers at an International ...
The Valentine watch collection by Coach
Deadline extended to register for first ever Dubai Corporate Sports Championship
Emirates Post commemorates silver jubilee of Emirates Center for Strategic Studi...
Fatima Bint Mubarak Ladies Sports Academy (FBMA) International Show Jumping Cup ...
Billy is 40 years old..
Facebook to launch fact-checking program in Arabic in partnership with AFP in th...
Treat your loved one to a romantic Venetian gondola cruise at Riverland™ Dubai o...
Innovative, Adventurous and Accurate. It's what pilots need in a timepiece. And ...
Dubai's first building biologist receives global recognition
Zayed Sports City Awards Scholarships to Students as Part of Mubadala Tennis in ...
Pirelli gives New Ice Zero 2 Studded Tyres Their Debut on Ice in Sweden at the W...
Dubai Customs receives Oman Chamber of Commerce delegation
Exclusive position in the front row of the grid: The BMW M850i xDrive Coupe Firs...
Robinsons to launch its new luxury lighting department – the latest addition to ...
The Fall 2019 Michael Kors Collection Runway Show
The Rise of Green Technology in Construction
Valentines Day Gift Guide from Anker
GSK sets to improve antibiotic adherence in the UAE with a new patient-friendly ...
Turkish Airlines introduces its new The LEGO® Movie 2 Inflight Safety Video, bef...
Dubai Cares and UNICEF announce the Dubai Declaration on Early Childhood Develop...
Canadian University Dubai partners with Malaysia's top-ranking Multimedia Univer...
Patented dental solutions, Dental Robotics and Digital Innovations attract visit...
Abu dhabi Grand Slam® Jiu-Jitsu World Tour fifth and final leg of season 4 heads...
MASmash Opens in Abu Dhabi at Manarat Al Saadiyat
Abu Dhabi University appoints outstanding leaders as Vice Chancellor and Associa...
Wellness Saturdays with H Retreats
10 things you didn't know about Space Grill
Healthy Passenger Demand Continues in 2018 with Another Record Load Factor
Ministry of Health and Prevention Launches its Media Campaign as Part of the “Wi...
Greece partners with VFS Global to launch Visa Application Centres in the Kingdo...