When real estate agents in Abu Dhabi broke the laws governing the industry, they were fined and had their brokerage licences revoked.
According to authorities, 50 fines were issued against brokers for violating real estate rules and regulations during the first quarter of this year.
These brokers were also fined for failing to follow professional conduct guidelines and for marketing projects without registration. Furthermore, according to the Abu Dhabi Real Estate Centre (ADREC), seven real estate brokers who disregarded professional conduct were barred from the industry and their brokerage firm was fined Dh30,000.
The ADREC ensured that the authority prioritized legal procedures in keeping with its endeavors to uphold the highest standards in the real estate industry in Abu Dhabi.
Following a crackdown by Dubai’s regulatory body on real estate companies to enforce stringent compliance with advertising regulations for openness, ADREC has made this decision.
In February, the Dubai Land Department’s (DLD) regulatory arm, the Real Estate Regulatory Agency (RERA), set terms and conditions to control advertisements and stop unfair business practices. The authorities fined thirty real estate companies Dh50,000 each for not adhering to the terms and conditions mentioned in real estate advertisements.
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