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RERA is a part of Dubai Land Resources Department. The agency has its own financial and administrative independence with full legal authority to regulate the real estate sector in Dubai. RERA provides transparence and effectiveness of legal framework , when everyone involved in the property market can conduct a business.
The 2007–2008 financial crisis led to the Dubai housing crash in 2009 and a sharp decline in property values and a slowdown in development activity. The government took a series of measures to support the industry, including increased regulation and transparency, and establishment of the Dubai Real Estate Regulatory Agency (RERA). [7]
RERA has ordered and approved property owners and property brokerage firms to register all of their assets available for sale on Simsari.ae. The deadline for property registration with the online portal was 31 August 2012. Dubai Land Department and RERA considered it as a mandatory requirement from 1 September 2012. [1]
In Dubai, EJARI is an online registration system initiated by the Real Estate Regulatory Agency (RERA) that requires all rental or lease contracts in Dubai to be recorded at this portal. [1] The main objective of the system is to legalize the relationship between landlords and tenants in Dubai. [citation needed]
RERA may refer to: Dubai Real Estate Regulatory Agency; Ajman Real Estate Regulatory Agency; Real Estate (Regulation and Development) Act, 2016, the regulatory law passed by the Parliament of India; Respiratory-effort related arousal, see Respiratory disturbance index; Rera, a fictional character, the alter ego of Nakoruru; A discontinued ...
June: Dubai's Salik (Meaning 'clear') road toll comes into effect. June: Dubai Real Estate Corporation was founded. July: 'Temporary' crossing, the Floating Bridge opens. August: Real Estate regulator Real Estate Regulatory Agency (RERA) founded. [60] Business Bay Crossing, originally named the Ras Al Khor Bridge, opens. Gulf Art Fair begins.
Mohammed Rahif Hakmi is the founder and chairman of Armada Group [3] [4] [5] and has been licensed by Dubai Land Department (RERA - Real Estate Regulatory Agency) as Developer back in 2008. [6] [7] Hakmi holds a degree in Civil Engineering, M.Phil. and a PhD in Structural Engineering from the University of Salford, United Kingdom.
Vue De Lac (French for "View of Lake") is a complex of three towers in Jumeirah Lake Towers in Dubai, United Arab Emirates. Two of the towers, Vue De Lac 1 and Vista Del Lago, have 40 floors. Vue De Lac 2 has 45 floors. Completion of the complex was initially promised for September 2007. [1]