Advertising property? Get approval first

Abu Dhabi - The media should "refrain from publishing promotional advertisements about buying, selling or offering rented property units or any other advertising activities without prior approval," says the Abu Dhabi Municipality. Violators will face legal action.

The Abu Dhabi Municipality has advised the media not to publish property-related advertisements related to selling and buying without getting prior approval.
The media should "refrain from publishing promotional advertisements about buying, selling or offering rented property units or any other advertising activities without prior approval," says the Abu Dhabi Municipality. Violators will face legal action.
The new measure is part of the Real Estate Law which is set to be introduced by the Department of Municipal Affairs and the Department of Transport, the Abu Dhabi City Municipality. The new real estate law which has four pillars: offplan sale, project cost account, participation in exhibitions and advertisements.
The law provides clear mechanisms aimed at achieving public interest and safeguarding the rights of property traders, sellers, buyers and brokers. It would streamline the real estate sector and create an investment-friendly environment.
The Municipality has already started issuing special permits for property developers and registering trustee accounts with banks to operate escrow accounts for projects. The civic body has also deputed special teams to enforce the law pursuant to the resolution issued by Musabbah Mubarak Al Murar, acting general manager of the Abu Dhabi City Municipality.
The Municipality has relocated the real estate registration division offices adjacent to the land division to make all 39 services at the disposal of customers.
The Municipality has carried out several induction workshops in partnership with developers for more than a month. To enhance cooperation with partners, the Municipality has organised visits to Aldar Properties, TDIC and Tamouh.
Four agreements have been approved for registering trustees of project escrow account with four banks, namely Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, National Union Bank and Dubai Islamic Bank.
The Abu Dhabi Municipality has designated five counters of the customer service centre at its main office on Shaikh Zayed Road to serve developers. So far, seven developers have been registered as per the new law.
The Municipality is registering property units in development projects licensed in the real estate register according to the provisions of the law, regulations and executive resolutions issued in this regard.
The Municipality's customer service centre at Shaikh Zayed Street is currently receiving applications from developers and real estate firms. Later, it will broaden the scope of outlets offering such services to developers.
The Municipality lauded efforts by property companies to enforce the Real Estate Law by streamlining the buying and selling process, property registration, brokerage, assessment, fees and security mortgages besides joint property management in a way that provides an investment-conducive environment and strikes a balance in the real estate market.
- haseeb@khaleejtimes.com