The Real Estate Regulatory Authority (RERA) has monitored and checked real estate advertisements to identify compliance with the requirements stated by the Circular No. 11-2016 dated 08.10.2016. As a result, RERA has fined 30 real estate companies for non-compliance.
The resolutions of the Circular are considered to be violated in the following cases:
- Advertisement of real estate objects without an official authorization from RERA.
- Absence of an advertising authorization number in the advertisement.
- Placing information in the advertisement which was not approved by RERA.
- Absence of a QR code with the property details.
- Advertisement of a separate unit rather than the entire property (for off-plan properties).
- Absence of a developer's name, project name, project number, project location, and approved escrow account number in the advertisement text (for off-plan properties).
- Advertisement of a property that is no longer available for purchase.
Brokers are required to remove all advertisements with violations from the real estate portals.
In accordance with Circular No. 1/2020 dated 17.05.2020, brokers may face the following...