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 5338 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
Meet the FOREO family as they share their top tips for radiant skin during the ...
Three Trends to Try with Palladio Beauty
bebe Launches First Ever Ramadan Capsule Collection
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Care for your baby's sensitive skin with Corine de Farme
Ramadan-Inspired Sandro SS18 Pieces
New Master Maserati Driving Courses for 2018
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
Do Explore More with Pandora
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Marchon Eyewear New Collections
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
Charlotte Tilbury, the World's #1 Celebrity Makeup Artist, Announces the Opening...
Caudalie The Cleansing Collection
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Make Ramadan Better With the Gift of Sharing
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Breitling's Navitimer 8 Collection Arrives in The Middle East
Facebook Launches Youth Portal, a Central Place for Teens
Stay connected with your loved ones this Ramadan season with the Nokia smartphones
Pick what suits you from essence Spring/Summer 2018 nail polish collection
CND™ Boho Spirit: The Collection Summer 2018 Shades
White Man & Woman Focuses on Innovation and Sustainability With Patagonia at Whi...
Global Rollout of LGG7 Thinq Gets Underway
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
1st Edition of Cannes International Film Festival From May 8 to 19, 2018
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction
du Helps You Stay Connected this Ramadan with Exclusive Offers Throughout the Ho...
MAC - Prep + Prime Fix +
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Glambeaute.com's Special Ramadan Beauty Packs
Revel in the all-new Mango Memory Menu – a summer treat by Moombai & Co
Get Your Nails Summer Ready with FC Beauty
Dubai Festival City is the place to be this Ramadan
A Nose for Great Sound
HP and DiSTI Join Forces to Reinvent Enterprise Training Using Virtual Reality
Turkish Airlines Announced its 2018 April Passenger and Cargo Traffic Results
Lufthansa Group and Travix announce NDC partnership
Etisalat Launches First Commercial 5G Network in the MENA
Manero Flyback A Modern Take on a Retro Style
Qualcomm, Nokia and Leading TV Broadcasting Ecosystem Companies in Europe Showca...
Sheikh Juma launches his Asian Games preparations with NAS Run