The Land Department of Dubai (DLD) has decided to partner with Al Futtaim Communities, part of Majid Al Futtaim Properties to collectively drive digital initiatives across the industry and simplify the process for potential homeowners.
“Digital real estate transactions”, which enable the digitalization of real estate sales transactions in Dubai is expected to be at the forefront of this collaboration.
Opting for electronic real estate transactions is expected to significantly reduce the time required to complete transactions while also enhancing the overall customer experience by eliminating the need to be physically present to sign and submit documentation. Property buyers will be able to complete and submit the required paperwork digitally from the comfort of their own home or office, regardless of where they are located in the world.
Sultan Bin Mijrin Director General Dubai Land Department
“In a world defined by the speed and convenience of online and on-demand services, it is essential for the real estate industry to utilize digital tools and automated processes. The Digital signature would make it possible to conduct real estate business from any place and anytime, at buyer or investor comfort. As Dubai continues to position itself as a global hub and innovative city, we are excited and happy to support Majid Al Futtaim Communities in enhancing the real estate landscape and driving digital innovations.”
Stronger Growth Prospects
The Dubai real estate market, well known for its highly competitive nature is seeing strong growth dynamics, with many international investors showing greater interest.
The introduction of new visa reforms, the ease of business ownership, as well as the economic impact of Expo 2020 Dubai have strengthened the UAE’s position as a hub to live and work and created a perfect opportunity for real estate owners and investors who are on the lookout for a strong property market.
The “digital real estate transactions” initiative aims to increase property sales efficiencies, creating a simplified process for both investors and customers, allowing the industry to remain attractive and flexible for both investors and homeowners from around the globe.
Sharing his view about the collaboration with DLD, Mr. Hawazen Esber, Chief Executive Officer, Majid Al Futtaim Communities remarked that “As we aim to become the region’s most customer-centric developer, we are excited to work alongside Dubai Land Department (DLD) to create a more innovative industry. The initiative would not only allow us to mark the next step in our industry’s digital transformation journey, but it would also enhance our customers’ experience, offering seamless and safe transactions regardless of their location.”
The DLD was recently awarded special honor by Majid Al Futtaim Communities for its consistent support and efforts towards enhancing the real estate landscape. The recognition also expresses Majid Al Futtaim’s continued support and commitment, as the country aims to become the number one hub for global economy and innovation.
