RERA is an abbreviation for Real Estate
Regulatory Authority. It is government agency whose establishment was supported
by Dubai Land Department. RERA is being established with the aim to regulate
the real estate sector in Dubai. RERA
was established in 2007 by His Highness Sheikh Mohammed Bin Rashed Al Maktoum,
vice president and Prime Minister Ruler of Dubai. It is a legal arm of Dubai
Land Department which is responsible to regulate real estate sector of the
emirate and help to formulate strategies and regulatory activities to control
landlords and property management companies. It also regulates activities of
real estate agents. RERA also finalize specific standards to authorize lease
contract registration and certifications. Moreover, it also issues licenses for
real estate developers.
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