(MENAFN- Khaleej Times)A resolution restricting real estate appraiser job to Emiratis has come into effect on Wednesday.
Shaikh Hamdan bin Mohammad bin Rashid Al Maktoum Crown Prince of Dubai; and Chairman of Dubai Executive Council endorsed Resolution No. 37 of 2015 on the regulation of real estate appraiser profession on Wednesday. The move aims to restrict the profession to qualified real estate appraiser and those listed in the database of the Real Estate Regulatory Agency (Rera). It stipulates that only Emiratis will be permitted to work as real estate appraisers and must have a minimum of two years' work experience or has completed the training specified in the resolution. The resolution also specifies the violations and value of fines. The value of the fine will be doubled if the same violation is committed within a year. The resolution specifies that Rera will be responsible for registering and renewing registration of trained appraisers as well as approving and renewing permit applications. - Wam
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