RERA looks to expand

Dubai’s Real Estate Regulatory Authority have announced that they are planning to become an international real estate reference point. Named Menares – short for the Middle East and North Africa Real Estate Society – they are looking to establish a professional real estate market body.

Menares are planning to be a reference body only, not a regulatory body and are hoping to be able to assist any country that falls under their framework. Rera have recently joined four other organisations (the International Real Estate Federation, the World Association of Valuation Organisation, the Royal Institute of Chartered Surveyors, the Asian Public Real Estate Association and the Urban Land Institute) who are responsible for regulating real estate affairs therefore it is little surprise that they are looking to expand their reach further.

As yet, Menares has not released details of any collaborations with other real estate organisations however it is reported that there are several discussions in the pipeline. Menares have said, however, that some of their main aims will be real estate and property education, professionalism in the field, and real estate practice.

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