DUBAI Rera Exam | with complete solution 2023/24

DUBAI Rera Exam | with complete solution 2023/24 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