Rera fires warning on malpractice at Cityscape Global

Dubai - Stiff penalties await those who chase investors in corridors, parking lots

Property developers and brokers taking part at Cityscape Global have been warned by the Real Estate Regulatory Authority (Rera) not to chase investors in corridors and parking lots.
"Rera warns developers and brokers of malpractice during Cityscape from chasing investors in corridors and parking lots. Violating these instruction will incur penalties on the real estate developer or broker that may result in a financial and or the cancellation of their registration from the records," said Rera's notice sent to exhibitors taking part in the exhibition.
"Exhibitors are obliged to provide their services through their respective stands only."
Some Cityscape visitors confirmed that they were approached in corridors.
"I have been visiting Cityscape for years and was very surprised to see a woman who did not represent any developer, but still offered to take me to them if I wished to buy a property," said MD.
"I declined to go with her, as I know that either developers or registered real estate agents can sell properties."
- waheedabbas@khaleejtimes.com