The Dubai Land Department (DLD) has launched a new remote property registration system that will allow real estate owners complete sales transactions from any part of this world, the media reported.
The new property registration system introduced by Dubai Land Department is a part of the Dubai government’s plan for a wide smart transformation in Dubai with public entities deploying advanced infrastructure to ensure the availability of services any time anywhere.
In a statement, the DLD said that the new system allows direct interaction between buyers and sellers and the finalisation of procedures through audio-visual communications.
Sultan Butti bin Mejren, DLD Director-General told the media, “We work with our partners in various government departments to implement the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai the smartest city in the world and the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, to accelerate the emirate’s smart transformation. We are delighted to work with Dubai Future Accelerators and Smart Dubai to develop a secure remote property registration system that enables sales transactions to be processed through the Dubai Land Department from anywhere in the world.”
The new system will also facilitate money transfer through an escrow account that protects the rights of all parties. Money transfers can be transferred within three working days to the seller’s account. So far, the Department has successfully completed 550 transactions worth AED600 million through this system.