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Company fined AED 50,000 for violating Dubai's real estate advertising laws

Sunday, 10 May 2020 09:53

iStock [For illustration]

Authorities in Dubai have warned of tough action against companies and brokers violating real estate advertising laws.

The reminder comes after a property firm was fined AED 50,000 for promoting projects not registered under its name.

The Real Estate Regulatory Agency (RERA) took action after the company launched a marketing campaign without obtaining the necessary permits.

It was also pulled up for issuing investment contracts to customers and receiving amounts outside the escrow account.

RERA imposed the fine, with a warning to double the amount if the company fails to rectify the violation, suspend its licence, close its office, and transfer the case to the public prosecution.

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