Dubai Land Department: Now, You Can Purchase Property in Dubai in Minutes, Not Days.

  • 6 months ago
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In a significant move to enhance the efficiency of property transactions, the Dubai Land Department (DLD) has signed an agreement with the emirate’s seven leading developers. This collaboration will allow these developers to use DLD’s registration system to manage all real estate transactions, reducing the registration time from days to mere minutes.

Photo: Supplied

The deal is expected to greatly empower developers and significantly boost the registration capacity across the sector. The seven developers involved include Emaar Properties, Damac, Binghatti Properties, Aldar Properties, Sobha Realty, Azizi Developments, and Danube Properties, all of which are key players in Dubai’s real estate market, particularly in the supply of new and off-plan units.

Photo: Supplied

With this agreement, these developers now have full authority to register and audit all real estate transactions, providing a seamless experience for both developers and investors. This initiative is anticipated to make the property buying process in Dubai much faster and more transparent.

Photo: Supplied

In July, Emaar Properties dominated the off-plan market with a 23 percent share, recording 2,077 transactions across various projects. Danube Properties and Sobha Group followed with significant market shares, highlighting their strong presence in the off-plan segment.

Photo: Supplied

Dubai’s real estate market continues to show robust growth, with 12,900 apartments and 3,925 villas delivered in the first half of 2024, and an additional 20,000 apartments and 5,000 villas expected to be handed over by the end of the year.

Photo: Supplied

 

Photo: Supplied

 

Photo: Supplied

Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, emphasized that this agreement will enhance investor protection, simplify procedures, and ensure transparency in the sector. The DLD also committed to providing the necessary training and technical support to the developers’ employees, maintaining the quality of registered transactions, and closely monitoring all activities to ensure accuracy and compliance.

 

Source :  khaleejtimes.com

 

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