Bahrain Real Estate Advertising Guidelines by RERA

Dear LinkedIn Community,

I hope this message finds you well. At Advicecube we specialize in real estate compliance, I am excited to share with you the latest developments from the Real Estate Regulatory Authority (RERA) in Bahrain.

On July 20, 2024, RERA issued a game-changing circular that impacts how real estate developers and institutions advertise their projects. Here are the key highlights:

1. Ban on Unauthorized Advertisements: Starting October 18, 2024, advertising real estate plans without prior approval from relevant authorities will be strictly prohibited. This move aims to enhance transparency, protect consumers, and maintain industry standards.
2. Seven-Day Decision Period: Developers must allocate a seven-day period for prospective buyers to make an informed decision on purchasing units in off-plan developments. During this time, buyers receive detailed disclosure information and can reserve a unit by signing a Reservation Agreement.
3. Market Research Advertising License: Developers can now obtain a temporary 9-month license for market research and testing the market before committing to a full development project. This allows them to assess market viability, design projects, and engage with potential buyers.

How Can I Assist You?

As a compliance advisory firm, I am here to guide you through these changes. Whether you’re a developer, investor, or buyer, feel free to reach out for personalized advice and insights. Let’s navigate the evolving real estate landscape together!

?? Contact Me: https://www.dhirubhai.net/in/advicecubemd/

Remember, compliance is not just a legal requirement—it’s a strategic advantage. Stay informed, stay compliant!

Best regards,

Mohammad Zubair

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Always consult with legal professionals for specific guidance.

Note: The circular can be accessed here. https://www.rera.gov.bh/Media/downloads/Circulars/2024/RERA%20Regarding%20Real%20Estate%20Advertising%20Guidelines.pdf