Dubai Land Department inks pact with 7 developers to manage real estate transactions
Dubai: Dubai’s Land Department (DLD) has signed an agreement with seven developers, including Emaar, Damac, and Sobha Realty, to allow them to use DLD’s registration systems to manage real estate transactions. The agreement includes Binghatti Properties, Aldar Properties, Azizi Developments, and Danube.
The authority announced in a statement on Tuesday that this initiative aims to enhance cooperation with the private sector, improve service quality, and streamline procedures by reducing transaction times.
“These companies will use the advanced registration systems developed by DLD to provide high-efficiency and quality services to Dubai Land Department customers,” said DLD in a statement.
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 by transparent governance standards.”
Al-Marri added, “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.”
What does the agreement mean?
Developers now have full permission to use DLD’s systems to register and audit all real estate transactions for developers and investors, DLD explained. It added that this will cut registration time from days to minutes and boost capacity, leading to higher client and investor satisfaction.
The agreement also helps developers meet growing property demand, supporting economic growth and attracting more investment. DLD also said it would enhance its supervision and regulation of the real estate market.