Monday 16 July 2018

Dubai issues 8,500 real estate permits in 12 months

DUBAI, September 26, 2017

Dubai Land Department (DLD) has issued a total of 8,500 real estate permits from August 2016 till last month, said a report.

Among the 16 categories of real estate permit issued by the Real Estate Regulatory Agency (Rera), the regulatory arm of DLD, the e-advertising permits topped the list with 6,393 followed by classified ads with 517, billboards with 302 and newspaper ads with 289, reported state news agency Wam.

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, stated the report, citing a top official.

"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," explained Ali Abdullah Al Ali, the senior director of the Real Estate Licensing Department at Rera.
"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," he added. 

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