Dubai Rera Final Exam – Questions With Expert
Solutions
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Terms in this set (141)
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 -Exclusive
listings? -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 Penalty AED 50'000
Number
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.
Solutions
Save Groups
Terms in this set (141)
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 -Exclusive
listings? -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 Penalty AED 50'000
Number
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.
