Dubai announces 10 real estate guidelines;

 here's how they will affect you The rules aim to protect the interest of the country, the industry, as well as the consumers. The Dubai Land Department (DLD), through its Real Estate Regulatory Agency (Rera), has issued a circular to real estate companies requiring them to abide by the 10 principles of business ethics in real estate. (Check apartments for rent in UAE) In the first principle, Rera emphasized the trust that real estate firms should uphold to maintain and enhance the confidence of real estate stakeholders as well as recognize that their conduct bears upon the maintenance of public trust in Dubai's real estate market, helping it rise to the highest global levels. The second principle discusses confidentiality and privacy, where real estate firms shall not disclose or use any confidential information without prior permission unless such disclosure is required by laws. This ultimately means that Dubai's real estate market maintains its reputation as one of the best investment havens in the world.
The third principle in the circular was about the conflict of interests, meaning real estate firms shall take appropriate measures, including the disclosure and transparency before and during the performance of their duties in case of any conflict of interest. Firms are also expected to work with the highest levels of honesty and fairness in treating their customers, regardless of race or religion, as dictated in the fourth principle. This ensures and supports Dubai's real estate sector in attracting foreign direct investment (FDI) to strengthen the national economy for the benefit of all economic sectors. Marwan bin Ghalita, CEO of RERA, stressed that the fifth principle focuses on integrity, where real estate firms shall act with integrity and base their professional advice on relevant, valid, and objective evidence. The sixth principle is lawfulness and compliance, where real estate firms shall comply with all legal and ethical requirements applied in Dubai and the UAE to ensure customer satisfaction. He stressed that providing professional service came as the seventh principle to ensure that the concerned companies provide high-quality real estate services and professionalism to ensure customer satisfaction. In this regard, he mentioned the initiatives launched by DLD to continuously support the performance of companies, including the development of the latest applications and the adoption of the latest modern technologies. In the eighth Principle, RERA required companies to commit to transparency by being open and accessible, not mislead or attempt to mislead, and shall not misinform or withhold information regarding products or terms of service. This came in line with the general climate prevailing in the UAE in general and Dubai in particular. The ninth principle summarised the rights and assets protection, where real estate firms shall strive to protect their customers' rights and assets related to the duties performed. This is the aspect that is ensured by the laws and legislations issued by the
Government of Dubai, and closely followed by DLD across its various sectors and departments, especially the Rental Disputes Centre. The circular concluded with the tenth principle, social responsibility, whereby real estate firms shall be active members of the society and work to respect the values and principles of the society. Firms shall strive to make sure that their community initiatives help making Dubai and their services will support the growth of real estate development of the Emirate and ensure customer satisfaction.
Shaikhani Group welcomes the take step by Government of UAE. This step will leads to new path for the people who are eagerly looking to spend their life in the UAE for longer time with less hassle, said Ahmed Shaikhani, who is also the head of Shaikhani Group. Moreover, Ahmed Shaikhani revealed that soon Shaikhani Group is in process of finishing their two projects worth above AED 200 Million by 2019 and more things are in pipeline. Shaikhani Group is looking to invest more money in the real estate sector.
Ahmed Shaikhani Group Managing Director of Shaikhani Group says it will be another good step of UAE government to allow the expatriates to stay in the country after they got retirement on a condition of owning a property valued at about $545,000.
This way customers and companies become more align to their path and try to finish off their work otherwise they know they will face a lot of problems. Thanks Dubai government to keep everyone equal and updated

https://www.khaleejtimes.com/business/real-estate/dubai-announces-10-real-estate-rules-heres-how-they-will-affect-you

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