The Real Estate Regulatory Authority (RERA) has announced new guidelines for regulating real estate advertisements across all digital and print media. This initiative is part of ongoing efforts to enhance transparency and credibility in the real estate market.
In a statement, H.E Sheikh Mohammed bin Khalifa Al Khalifa, CEO of RERA, emphasized that the new advertising guidelines are designed to protect the rights of those involved in the real estate sector and support secure investments. The guidelines aim to standardize real estate advertising practices, ensuring they align with professional standards, thus promoting fair and legal dealings and providing accurate and reliable information. He added that these guidelines include the creation of a unified system for all advertisers and buyers to showcase properties across various media platforms, in line with global best practices for market regulation.
H.E Sheikh Mohammed also noted that the new regulations are a significant step in organizing real estate advertisements. They enforce principles of honesty, integrity, and transparency by requiring advertisers to disclose all relevant information about the advertised property and prevent the concealment of any material facts. The guidelines also mandate obtaining the property owner's consent before listing their property and ensuring that the information presented in the advertisement is consistent with the agreed-upon terms. Furthermore, the regulations stipulate that the purpose of the advertisement must be clearly stated and updated or removed as soon as the specified purpose is fulfilled.
Additionally, the CEO highlighted that the new rules require advertisers to include a QR Code issued by RERA in all their real estate advertisements, including off-plan sales. This QR Code can be scanned by interested parties using their smartphones to access reliable information about the property, such as licensing details and ownership records, among other crucial data.
He urged advertisers to use real, up-to-date images of the property and banned the use of altered images. Sheikh Mohammed called on all advertisers to comply with these guidelines by October 18, 2024, to ensure a positive and fair experience for everyone and create a trustworthy environment that facilitates the search for suitable properties.
