In a major move, Dr Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has announced key steps to regulate the real estate brokerage profession in the emirate, reported state news agency Wam.

Dr Sheikh Sultan today (September 23) issued Decree-Law to repeal Law No. 01 of 1981 on the intermediaries (Brokers), stated the report.

Pursuant to the new Decree-Law No. 02 of 2018, the Sharjah Executive Council (SEC) is mandated to issue a resolution to regulate the real estate brokerage profession in the emirate as well as the fees and the administrative penalties in accordance with the relevant provisions.

The Sharjah Consultative Council shall be notified of this Decree - Law immediately after its convening, said the Wam report.

The decree shall be effective from the date of its issuance and other competent authorities should implement its provisions each in its respective field, and shall be published in the Official Gazette, it added.