A couple of weeks ago, we pointed out the structural flaws of most UAE Real Estate brokerages and how, through a series of simple steps, their operational infrastructure could be significantly improved and long-lasting value created. [see: OPED – From house of Cards to House of Bricks – 14.01.21]
Some have opted – voluntarily – to act. They are on their way to reap the benefits of their proactivity. But another piece of news with a much more significant impact has received little coverage. Real estate operators are at the highest level of risk of having their business shut down on account of non-compliance with UAE AML Laws.