The Real Estate Regulatory Agency (RERA; Arabic: مؤسسة التنظيم العقاري) is a government agency to regulate the real estate sector in Dubai, the governmental Dubai Land Department. It’s a head agency which forms, regulates and authorizes the real estate sector in Dubai. RERA was founded on 31 July, 2007 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.
To set policies and plans in the real estate sector in Dubai in order to increase foreign investments. RERA is a part of Dubai Land Resources Department. The agency has its own financial and administrative independence with full legal authority to regulate the real estate sector in Dubai.
RERA provides transparence and effectiveness of legal framework, when everyone involved in the property market can conduct a business. In this concept RERA aims to develop an on-line society for investors, developers and buyers, as well as for supporting sectors (banks, law firm and insurance companies) could cooperate with each other and with RERA.
Source: Dubai Real Estate Regulatory Agency