QUESTIONS WITH SOLUTIONS GRADED A+
◉ Business Bay number of buldings. Answer: 240 (completed 2008)
◉ Palm Jumeirah. Answer: 3 Palms 520 km by Nakheel
◉ Al Maktoum International Airport. Answer: Projected anual
capacity 160 Million passanger
◉ The World Island. Answer: by Nakheel
◉ Dubai Land Department (DLD). Answer: The main objective of
DLD is to organize and documents all real estate transaction for and
behalf Dubai Goverment. established 24.01.1960
◉ RERA. Answer: Real Estate Regulatory Agency. Rera regulates the
real estate investment in the emirate of Dubai. Launched 31 of July
2007.
◉ Objectives of RERA. Answer: 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. Answer: 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. Answer: You own property and land Forever.
◉ Leasehold. Answer: You own property but not land
◉ Tarakheesi. Answer: 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. Answer: 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. Answer: Can only sell developers project.
◉ Red Broker Card. Answer: only time share properties; sell one unit
to more than one person.
◉ Yellow Broker Card. Answer: only FZ properties
◉ Return on investment (ROI). Answer: 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?. Answer: A listing is a contract between an
owner and broker.
◉ What is the different between type of listings?. Answer: -Exclusive
-Open listing
, ◉ What is multiple listing?. Answer: MLS is an arrangement among a
group of agents whereby they agree to share information and split
commission.
◉ What is a qualified buyer?. Answer: Seeking to buy.
◉ What is an assent?. Answer: It is something of value that one
owns.
◉ What is liability?. Answer: It is opposite of asset ; It's a debt or
obligation that one owns.
◉ What is the Law 26 of 2007. Answer: It regulates the relationship
between the tenant and landlord.
◉ ORN. Answer: Office Registration Number
◉ BRN. Answer: Broker Registration Number
◉ STR. Answer: Special Transaction Register
All transaction Agreements