Stricter Rules for Marketing Broker Overseas

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Dubai Land Department (DLD) issued stricter rules for brokers marketing overseas properties in the Emirate of Dubai.

In a bid to protect residents who are interested in buying properties overseas, as quoted by Mr. Ali Abdullah Al Ali, director of the Real Estate Licensing Department at the Dubai Real Estate Regulatory Agency (RERA).

Brokers will have to meet four conditions that include: getting a marketing permit from the online Trakheesi system; submitting the marketing contract between the broker and owner of the property; submitting a copy of the title deed attested by the UAE embassy in the place of issue (translated into Arabic by a certified translator); and obtaining a letter from the concerned authority in the country in question describing the rules for foreign property ownership in that country.

The new rules follow an earlier scheme introduced in October 2016 forcing brokers marketing properties locally to gain permits before advertising homes.