Communication 'could benefit real estate'

27/03/2009 - Dubai Property News
Communication 'could benefit real estate'

A new initiative from the Dubai Land Department and the Real Estate Regulatory Agency (Rera) aims to improve communication between the authorities and property developers.

The new system, which may help those looking to buy property in Dubai, is designed to see more cooperation between developers, brokers and the authorities, Business 24/7 reports.

Director general of the Land Department Sultan Butti bin Mejren said the move will create new committees for developers, brokers, investors and valuers.

Better communication here will in turn "boost investor confidence", the director general said.

The new committees will also offer a place for expertise to be exchanged, he said, noting that better communication will help everyone involved with developing and buying property in Dubai.

Rera was established in July 2007 and works to create a transparent regulatory environment for the real estate business.