Bahrain may regulate real estate advertisements

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain may follow Saudi Arabia’s steps in regulating the real estate advertisements due to the current situation, according to Bahrain Businessmen Association’s Real Estate and Construction Committee head Nasser Al Ahli. Saudi Arabia is set to impose advertising controls that aim to decrease fake real estate advertisements and improve their reliability and credibility.

The new rules will end random advertisements across social media channels as licences and classification will be issued to electronic real estate platforms to give credibility to the real estate advertisements.

“I expect Bahrain to follow suit. Real Estate Regulatory Authority (RERA) has done really well to regulate this vital field. As a result, we have seen low number of fraud cases in the real estate market,” Al Ahli told DT.

“There is a need for regulations in place for real estate advertisements because there are some that lack credibility and aim to fool buyers. Although there are a few cases related to deception in the real estate area, we are sure RERA will turn its attention to producing regulations with regards to advertisements.”