Dubai Land Department (DLD) has signed agreements with seven leading developers which include Emaar Properties, DAMAC, Binghatti Properties, Aldar Properties, Sobha Realty, Azizi Developments, and Danube. This agreement has allowed these seven developers to use DLD’s registration systems to manage their real estate transactions. This landmark move by DLD strengthens cooperation with the private sector and allows easy access to the services provided to the public through the department’s electronic systems.
The agreement includes leading developers of Dubai, Emaar Properties, DAMAC, Binghatti Properties, Aldar Properties, Sobha Realty, and Azizi Developments Danube. These companies have been allowed to use the advanced registrations systems developed by DLD to enhance work-efficiency and quality services to the customers of Dubai Land Development.
As per the statement released by Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, said: “Through this partnership, we aim to enhance market confidence in the real estate market, provide greater protection for investor rights, and expedite and simplify procedures in accordance with transparent governance standards. Elevating the levels of partnership with the private sector and achieving integration with government services remain top priorities for us. This ensures the provision of proactive real estate services, raises awareness, confidence, and transparency in the sector, and solidifies its sustainability and future readiness.”
He further added, “At Dubai Land Department, we are committed to enabling our partners in this agreement to complete the relevant services in accordance with the technical conditions for using the specified systems. We will also provide necessary training and technical support to the employees of these companies for operating the system, in addition to maintaining the quality of transactions registered by these companies and evaluating the accuracy of their records.”
The agreement gives full permission to developers to get themselves registered and audit all real estate transactions meant for both developers and investors. It will help in reducing the registration process time from days to a few minutes, additionally increasing the registration capacity, which positively impacts the satisfaction levels of both the clients and investors.
This landmark agreement by Dubai Land Department boosts the ability of real estate companies to successfully the growing demand for properties, which further supports economic growth and increases investment in the market, thus directly boosting the local economy.
Source: Zawya
