Dubai Residents Fall Victim to Fake Real Estate Ads Demanding Advance Payments

Dubai Residents Fall Victim to Fake Real Estate Ads Demanding Advance Payments

Dubai’s regulatory authority recently imposed a fine of AED 50,000 on each of the 30 real estate companies that failed to comply with the specified terms and conditions in their advertisements, Invest-Gate reports.

Numerous instances have been observed on social media platforms where real estate agents enticed potential tenants with misleading photos of properties.

These deceptive posts have led to scams, with many Dubai residents falling victim and even making advance payments.

Mohammed Nael, a Jordanian national, encountered such a situation when he was searching for a new home. Despite seeing attractive pictures of a property online, the actual place he visited was entirely different, leaving him perplexed.

Further investigations revealed that numerous real estate agents were posting appealing photos of flats that did not match the reality.

To address these issues and promote transparency, the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department (DLD), established terms and conditions governing advertisements.

The authority requires all real estate companies to adhere to these advertisement rules and provide accurate and reliable information to customers by obtaining advertising licenses.

RERA emphasized the mandatory inclusion of a QR code in advertisements to enable investors to verify associated property data.

Authorities in Dubai have repeatedly urged property firms to strictly adhere to advertisement rules, ensuring transparency in the industry.


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