Nine major property development companies have got their official licences from the recently-established Real Estate Regulatory Authority (Rera), said a report.

The licences were given by Rera after regulating their situation, in compliance with the provisions of Law 27 of 2017, reported BNA.

Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa said that six advertising licences for off-plan development projects too were granted.

“The market research advertising licence aims at averting stalled real estate projects and enabling developers to find sufficient number of buyers,” stated Shaikh Mohammed.

The regulatory authority has licensed many real estate brokerage offices and sales agents, he added.