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Exam (elaborations)

DUBAI Rera Exam (Questions & Answers)

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DUBAI Rera Exam (Questions & Answers)

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  • April 4, 2023
  • 19
  • 2022/2023
  • Exam (elaborations)
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DUBAI Rera Exam (Questions & Answers)

Highest Burj Khalifa - 829,8 (2722 ft)

Business Bay number of buldings - 240 (completed 2008)

Palm Jumeirah - 3 Palms 520 km by Nakheel

Al Maktoum International Airport - Projected anual capacity 160
Million passanger

The World Island - by Nakheel

Dubai Land Department (DLD) - The main objective of DLD is to
organize and documents all real estate transaction for and behalf Dubai
Goverment. established 24.01.1960

RERA - Real Estate Regulatory Agency. Rera regulates the real estate
investment in the emirate of Dubai. Launched 31 of July 2007.

Objectives of RERA - RERA Role is:
- Licensing all real estate activities.
- Managing and organizing real estate developers' trust accounts.
- Licensing and organizing real estate agents.
- Regulating and registering Rental Agreements.
-Regulating and supervising the owners associations.

Regulation #3 of 2006 - In 2001 Dubai Goverment agreed to allow
expats to have 99-year lease of particular property. In 2002 Sheikh
Mohammed bin Rashid Al Maktoum, issued a decree allowing foreigners to
buy property on freehold ownership.

Freehold - You own property and land Forever.

Leasehold - You own property but not land

,Tarakheesi - Tarakheesi is web application meant for Real Estate
Offices for managing Real Estate Broker operation.
-Issuing broker card
-Updating broker card
Cancelling broker card.

Blue Broker Card - Blue card issued under the DED licenses and
brokers are allowed to work in Dubai.
Allows brokers to sell/lease in Dubai + FZ + Sell for developers but not time
share.

Green Broker Card - Can only sell developers project.

Red Broker Card - only time share properties; sell one unit to more
than one person.

Yellow Broker Card - only FZ properties

Return on investment (ROI) - It measures the gain or loss generated
on an investment relative to the amount of money invested.
ROI is usually expressed as a percentage and is typically used for personal
financial decisions, to compare a company's profitability or to compare the
efficiency of different investments.
ROI (Net profit/Cost of investment)x100

What's is a listing? - A listing is a contract between an owner and
broker.

What is the different between type of listings? - -Exclusive
-Open listing

What is multiple listing? - MLS is an arrangement among a group of
agents whereby they agree to share information and split commission.

What is a qualified buyer? - Seeking to buy.

What is an assent? - It is something of value that one owns.

, What is liability? - It is opposite of asset ; It's a debt or obligation that
one owns.

What is the Law 26 of 2007 - It regulates the relationship between the
tenant and landlord.

ORN - Office Registration Number

BRN - Broker Registration Number

STR - Special Transaction Register
All transaction Agreements

If ad does't have BRN or ORN Number - Penalty AED 50'000

Decree #21 of 2013 - Only the government has the power to cancel
projects.

OQOOD - Pre-Title Registration "My ownership certificate"

MOLLAK - My Strata Certificate
Owner Association And Registration

Code of Etics - regulates your relationship with customers, with other
agents and with public.

Dubai Land Department (DLD) - Established on January 24th 1960

Real Estate Regulatory Agency (RERA) - Established in 2007

RERA Role is: - Licensing all real estate activities.

• Managing real estate developers' trust accounts.

• Licensing and organizing real estate agents.

• Regulating and registering Rental Agreements.

• Regulating and supervising the owners associations

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