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Forum italiano export a Dubai

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Si terrà, lunedì 21 marzo 2022, nell’ambito di Expo Dubai 2020, l’evento organizzato - dal Forum Italiano dell’Export (Presieduto da Lorenzo Zurino) e da Lawrence Partners, con il patrocinio della Regione Campania, il Fondo Europeo di Sviluppo Regionale della Regione...

Buying a property in Dubai in only one step

The Dubai Land Department (DLD) has announced on Saturday that it has provided a team, which includes a manager and an auditor, to work directly from the real estate registration trustee centres with the aim of providing easy and flexible services to its customers. The Dubai Land Department (DLD) has simplified procedures to complete real estate registration transactions, including buying and selling, to attract more investment into the emirate.

Now completing the real estate registration transaction will be more speed in the way to enable the appropriate investment climate for the real estate sector.

The service start to work at the beginning of March 2020, where the team’s role is to provide technical support to the centres, provide support to the customers, and review and complete their transactions simultaneously, thus achieving the slogan ‘complete your transaction in one step through one channel.

Team members are required to provide support operations to the registration trustee centres through advanced and certified mechanisms to verify, review, and certify all the required information as well as confirm that they have the necessary powers to conclude all procedures and services provided in the registration trustee centres, including the issuance of title deeds.

Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector at DLD, said: “As part of our relentless efforts to provide distinguished services according to the highest standards enforced worldwide in the field of real estate registration, we managed to achieve this unprecedented success by developing an easy-to-use system that is available for all customers to obtain real estate registration services and through which they can choose and locate registration trustee offices. These distinguished accomplishments will help strengthen Dubai’s position as a preferred real estate investment destination in the world that supports all parties in the local real estate market, to ensure their comfort and happiness.”

Dubai’s real estate market has slowed in the wake of a drop in oil prices that began in 2014, and due to an oversupply in the property market. More than 12,000 units were handed over in the first quarter, according to JLL, with average sale prices falling by 7 per cent year-on-year.

The coronavirus pandemic has further pressured the sector as live viewings dwindled but some in the sector, such as Damac Properties chairman Hussain Sajwani, are forecasting a revival next year as economic activity ramps up ahead of Dubai’s Expo 2020 event.

The DLD is pledging that its new system will enable customers to complete their transactions “in one step through one channel”.

The process begins with the sellers and buyers at the real estate registration trustee centres; the required and valid legal documents must be submitted for review and approval as required. DLD’s fees should be paid via a certified bank cheque, along with the fees of the real estate registration trustee via the payment portal. After completing some of the required procedures, the registration trustee will issue the title deed for the new owner.

In an effort to elevate customer happiness to the highest possible levels, DLD developed a new and independent complaints mechanism related to real estate registration and survey maps in cooperation with Smart Dubai (complaints system), as it is the neutral and supervising authority when submitting customer complaints.

Alessandra Quarta Conte

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