Dubai announces huge real estate changes, including the ability to purchase a property in minutes.
The Dubai Land Department (DLD) has unveiled the Quick Sale function, which uses smart assessment technology to eliminate the need for audits in real estate transactions.
This action is consistent with DLD’s objectives to increase the adoption of creative solutions and accomplish the Dubai Economic Agenda D33 aim of positioning Dubai as the finest city in the world to live and work. The Immediate Sale Function is available for sales of freehold real estate units, comprising flats and villas, through Real Estate Registration Trustees.
Purchasing a Home in Dubai
Its goal is to expedite activities and enhance the DLD customer experience by requiring all parties to sign contracts at the real estate registration trustee office.
The smart valuation procedure confirms prices, which is accompanied by the completion of fee payment and the issue of the new title document in a matter of minutes. The Director-General of DLD, Sultan Butti Bin Mejren, stated that the Dubai real estate industry has had a remarkable performance with extraordinary growth, and that annual real estate transactions would exceed half a trillion Dirhams for the first time in 2022.
Its achievement may be due to sensible leadership directions and a strong focus on the real estate industry, which is an important pillar of sustainable growth. He also underlined DLD’s commitment to improving the infrastructure of the real estate industry through creative ideas and projects that contribute to the advancement of the digital ecosystem. This new endeavour will provide a powerful incentive for the industry to sustain its excellent growth and set a new record for the number of sales transactions in the following stages.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
