DLD: Madmoun RE Ads Service Enhances Trust and Transparency in the Real Estate Sector, with Widespread Corporate Commitment
The electronic service Madmoun has played a crucial role in generating QR codes for each real estate advertising permit issued by the Dubai Land Department. Launched in April 2023 by the Real Estate Regulatory Agency (RERA), the service aims to enhance transparency in the real estate sector and build confidence among investors and stakeholders in Dubai. The QR codes enable individuals to access real estate details quickly and accurately by scanning the code on their phones or tablets. The initiative has seen the issuance of 411,608 real estate advertising permits with a QR code, contributing to effective governance and control in the real estate sector.
The CEO of RERA at DLD, His Excellency Eng. Marwan bin Ghalita, highlighted the importance of adhering to laws and regulations, emphasizing the positive response from stakeholders in enhancing awareness, trust, and transparency in the real estate sector. Only five violations were recorded, each carrying a fine of AED 50,000, indicating the commitment of parties to issue a QR code for every real estate advertising permit according to the Madmoun service.
DLD plans to enforce violations directly on companies failing to adhere to real estate advertising conditions without issuing prior warnings, following a grace period for companies to align with the circular issued on this matter. The agency urges real estate companies to rectify non-compliant advertisements lacking the QR code and stresses the importance of adhering to specified dimensions for readability during scanning.
The Madmoun service facilitates the submission of reports regarding any real estate advertisement not matching the QR code data, and to date, 1,980 warnings have been issued to non-compliant companies. DLD advises customers and investors to engage only with real estate advertisements featuring the QR code to protect their rights and avoid fraudulent or unreliable transactions.
