Conducting Real Property Development activity in the Emirate without a valid licence from RERA is a serious offense. Any person or entity found committing this violation is subject to an administrative fine of AED 500,000. Furthermore, under the Esc…
Conducting Real Property Development activity in the Emirate without a valid licence from RERA is a serious offense. Any person or entity found committing this violation is subject to an administrative fine of AED 500,000. Furthermore, under the Escrow Law, this can also result in an imprisonment sentence and a fine of at least AED 100,000. These severe penalties ensure that only regulated, financially vetted developers can participate in the off-plan market.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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