Rera and Economic Department sign co-operation pact
The Dubai Department of Economic Development (DED) and Dubai's Real Estate Regulatory Agency (Rera) have signed a co-operation pact to facilitate all licensing procedures related to the real estate sector.
As per the agreement, DED will use its licence and business registration system for issuing licences related to real estate activities according to the procedures applied by Rera. Accordingly, Rera will train a number of DED staff on how to use the licensing procedures and the various requirements.
The agreement was signed between Sami Al Qamzi, Director-General, DED, and Marwan bin Ghalita, Chief Executive Officer, Rera.
"The co-operation agreement comes in line with DED's strategic objective to support the development and progress of the real estate sector in Dubai, which plays a vital role in the economic growth of the emirate," said Al Qamzi.
"DED and Rera will join hands to set a mechanism for issuing permits related to promoting real estate activities and thus enhance the quality of support services offered to real estate investors and customers," said the director-general.
Rera CEO Ghalita said: "The agreement aligns with our growth objectives to activate a joint mechanism to systematise all operations related to licensing for real estate activities.
"Rera seeks to develop a unified organisational structure that supports the interests of real estate investors and customers."
The real estate activities covered include real estate development, consultation, brokerage in buying, selling and renting, rental services, buying land and real estate, organising public auctions, timeshare residential units rental services, timeshare residential units rental brokerage, real estate pricing services and other related future activities.
Separately, Dubai Quality Group (DQG) signed an investor partnership agreement with Dubai Land Department.
Through its new alliance with DQG, the Land Department is expected to gain access to a wealth of quality-oriented resources and network affiliations that will help the department push the standard of organisational excellence to a higher level, which has been the focus of the land department in the recent period.
Moreover, the partnership is expected to deliver a positive impact on the real estate sector, ensuring higher customer satisfaction ratings and more opportunities for growth among key market players through the important role that the department plays in regulating the real estate market.
Sultan Bati bin Mejrin, General Manager of Dubai Land Department, said: "It is our commitment to provide the best environment to cultivate a world-class real estate industry in Dubai, and this partnership with DQG is certainly a step in that direction. DQG's expertise and resources will definitely be invaluable as we pursue new goals and meet new challenges in the future."
Marwan Al Sawaleh, Chairman, DQG, said: "The real estate sector is certainly one of the critical contributors to Dubai's economy. So being the industry's regulatory body, it is a great step for the Land Department to adopt a proactive and quality-focused approach in the delivery of public services as part of the latest measures it is implementing.
"We will support the Land Department in identifying new measures and innovations that will further enhance the level of quality in all its activities."