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
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
