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The Real Estate Regulatory Agency (RERA; Arabic: مؤسسة التنظيم العقاري) is a government agency to regulate the real estate sector in Dubai, the governmental Dubai Land Department. It's a head agency which forms, regulates and authorizes the real estate sector in Dubai.
Dubai Properties is a property development and management company based in Dubai, United Arab Emirates. [2] The company is a member of the Dubai Holding group . [ 3 ] In 2009 the attorney general of Dubai stated that Hashim Al Dabal, then chairman of Dubai Properties, was arrested on "suspicion of embezzlement ". [ 4 ]
Wasl is a semi-government entity established on May 25, 2008, by the Dubai Real Estate Corporation (DREC) to oversee the development and management of its assets. [4] It was created following the merger of two public sector organisations: Dubai Development Board and Real Estate Department.
Real estate is a significant contributor to Dubai's economy, accounting for a substantial portion of the city's GDP. [1] Dubai's real estate market has experienced growth and transformation, driven by the city's rapid economic development, strategic location, and urban planning. Real estate is a driver of Dubai's economy. [1] The city's real ...
Ministry of Development (MR) – Central Registration and Information on Business (CEIDG) [70] – company register for natural persons trading as sole traders or their civil law partnerships (searchable); such companies are prohibited from performing certain activities (e.g. operating a life insurance company), and proper agricultural activity ...
The EU Tax Observatory and Norway's Centre for Tax Research evaluated that in 2022, foreign ownership in Dubai's real estate market was worth approximately $160 billion. Until 2022, there was no obligation for real estate agents, brokers, and lawyers in Dubai to report large cash or cryptocurrency transactions to authorities. [192]
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Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...