Dubai: The Dubai Land Department (DLD) has formalized a partnership with seven prominent developers, including Emaar Properties, DAMAC, and Sobha Realty, enabling these companies to manage real estate transactions through DLD’s registration systems. The agreement also includes collaboration with other notable developers such as Binghatti Properties, Aldar Properties, Azizi Developments, and Danube.
Enhancing Collaboration and Efficiency
In a statement released on Tuesday, the DLD highlighted that this initiative is part of its ongoing efforts to strengthen cooperation with the private sector. The primary goals include improving the quality of services offered and streamlining procedures by significantly reducing the time required for real estate transactions.
According to the DLD, these developers will leverage the advanced registration systems developed by the department to deliver high-quality and efficient services to DLD customers. The initiative is expected to provide a seamless experience in handling real estate transactions.
Aims and Benefits of the Agreement
Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, emphasized the significance of this partnership in fostering market confidence. He noted that the agreement is designed to protect investor rights, expedite processes, and simplify operations through adherence to transparent governance standards.
Al Marri further stated that enhancing partnerships with the private sector and integrating government services are pivotal priorities. This approach ensures the delivery of proactive real estate services, promotes transparency, and boosts confidence in the sector, thereby ensuring its sustainability and readiness for the future.
Implications for Developers and the Market
The agreement grants developers full access to DLD’s systems for the registration and auditing of real estate transactions, benefiting both developers and investors. This access will dramatically reduce registration times from days to minutes, significantly improving client and investor satisfaction.
Furthermore, the partnership supports developers in meeting the increasing demand for properties, contributing to economic growth and attracting further investment. The DLD also plans to enhance its supervisory and regulatory role in the real estate market, ensuring continued oversight and governance.
