Article 19|December 2015 : Tighter Regulations for Abu Dhabi Real Estate Workers to take Effect in 2016

Tighter Regulations for Abu Dhabi Real Estate Workers to take Effect in 2016

by Al Mubasheri  |  December 2015

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Property professionals must take part in training and obtain a permit from the Government before they can do business in Abu Dhabi, under a new law.

As part of tighter regulations for the industry, the Department of Municipal Affairs will begin issuing the permits for developers, brokers, surveyors and auctioneers, the Government announced yesterday. Others affected include assessors and managers of owners’ associations. Training will improve the industry by bringing better service to the public, said Yousef Al Kuwaiti, a director at the DMA.

“The courses will also boost the knowledge of real estate professionals such that they can shoulder their duties and practise their rights in a transparent manner that safeguards the entitlements of all stakeholders,” Mr Al Kuwaiti said.

The law comes into effect on January 1 with a 90-day grace period, meaning those professionals without permits by the end of March will not be allowed to practise.

Sheikh Khalifa, President of the UAE, issued the law in June. It includes provisions regulating property development, buying, registration, brokerage, assessment, fees, security mortgage and joint-ownership management.

The DMA’s training courses will be held in conjunction with Abu Dhabi Vocational Education Training Institute and the Management and Real Estate Academy in Dubai.

Courses have already been held with staff from the DMA’s property division, and those for brokers and others will begin next month, according to Sally Akkad, a manager with the academy. “We are the only academy providing these courses that will give you the certificate to enable you to work in the real estate field in Abu Dhabi,” she said.

Property industry insiders welcomed the law, saying they were keen to have greater regulation.

“Having these classes of people regulated is a good thing but we just hope it will be backed up by enforcement,” said Ben Crompton, managing director of Crompton Partners.

“It is one thing issuing licences to good brokers but another enforcing rules against those with no licences.

“We hope this will be more than a paper exercise and that the municipality will go after people breaking the rules.”

Several other brokers said they were not aware of the new laws.

“I’m all for the industry being regulated. There are a lot of bad agents here so anything that brings in qualification or certification, I’m all for that,” said Liam Coady, a leasing consultant with M D Real Estate.

esamoglou@thenational.ae

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