The Dubai Land Department (DLD) has successfully completed 647 real estate settlements worth over AED1.38 billion ($375.71 million) in the first half of 2024. Through the Oqoodi Platform, all of the settlement agreements received approval, facilitating and expediting the process of real estate settlements.
Enhancing developer and investor confidence
With the Oqoodi Platform, DLD has enhanced the effectiveness of managing disputes. Moreover, it has provided a safe and reliable method for confirming and legally documenting each party’s agreement to the terms.
The DLD has committed to finding amicable settlements to resolve property disputes which enhances resources for investors and developers. In addition, the department has curated a team of capable and qualified legal specialists to manage settlements between parties, ensuring their rights through specialized consultations and careful analysis of disputes.
“This approach is an effective means of resolving disputes swiftly and efficiently, achieving investor satisfaction and happiness. These settlements enable parties to proceed with their investments, ensuring that real estate projects continue without delays and effectively support multiple industries linked to construction,” stated Abdullah Al Zarooni, legal support section manager at DLD.
Supporting Dubai’s property market growth
The department’s approach contributes to quick and effective solutions, maintaining good relations and saving time, effort and expenses associated with judicial proceedings. Additionally, the department legally documents agreements to ensure full compliance. This further enhances the confidence of developers and investors and promotes continued cooperation between them.
With the surge in Dubai’s real estate market and its attractiveness to investors, the DLD aims to facilitate transactions and challenges for investors and developers. In 2023 alone, the department achieved an unprecedented milestone with a record-breaking 1.6 million transactions across various real estate activities. During the first half of 2024, Dubai saw a 12.2 percent rise in the volume of real estate sale transactions.
