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New law allows DREI to grant certificates

Issac John /Dubai
issacjohn@khaleejtimes.com Filed on July 5, 2020

(Reuters)

The Dubai Real Estate Institute, or DREI, will have the authority to grant qualification certificates to real estate professionals and service providers, according to a new law.

As per the law issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, DREI will offer consultation services to real estate training professionals, create teams of real estate experts to advice the institute and conduct studies.

The Chairman of The Executive Council of Dubai will issue all the bylaws required to ensure the implementation of this law.

The institute, which was established in 2012, will be able to collaborate with local and international academic institutes to promote the dissemination of knowledge and create training programmes to promote the development of Dubai's real estate sector, as per the new Law No. (5) of 2020.

The institute seeks to develop the skills of professionals and enhance the competitiveness of the Dubai real estate sector, support the real estate community in sharing knowledge and promote innovation in the real estate market.

In accordance with the law, the executive body of DREI will be composed of a CEO and administration, finance and technical executives, the institute said in a statement.

The institute's CEO, who will be appointed by The Executive Council of Dubai, will have overall responsibility for developing DREI's training programmes, strategic plans and organisational structure and submitting them to the Director-General of the Dubai Land Department for approval. The DREI CEO is also responsible for developing internal rules and regulations, it said.

Other responsibilities of the CEO include developing DREI's annual report; supervising the work of the executive body; and proposing fees for training programmes to the Director-General of the Dubai Land Department for approval.

- issacjohn@khaleejtimes.com

author

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.


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