Property and Real Estate Regulations

Nature of activity: Includes firms dealing with buying and selling of property acting as brokers between the owners and buyers. The role ends with the signing of the contract and upon receipt of agreed commission.

Conditions:
• Companies are not allowed to be owner or partner.
• Owner must be at least 21 years old.
• Real Estate Practitioner Course for Bachelor Degree holder and Diploma in Real Estate Course for non-graduate owner/partner (This course is conducted under Real Estate Regulator Authority – RERA).
• Incase of expatriate Manager, his visa must be under this license.
• Certificate of Good Conduct from CID for all owners/partners.

Note:
• After issuing the License, all owners, partners, managers and sales staff must get broker ID Card from RERA.
• Owners are not allowed to have more than one real estate brokerage license.
• Branch office is allowed only if the parent license having minimum 15 staff.
• Activity fee Dh5000 per year, to be paid at RERA. Economic Department fee is separate.