Arabian Business, 19 February, 2019
Dubai Land Department (DLD) has announced the launch of the Smart Audit initiative that allows the completion of real estate transactions on the same day.
During the first week of the audit, more than 112 transactions were implemented, DLD said in a statement.
Through the 10X initiative, a customer may conclude any transfer transaction — whether sale, grant, or mortgage — on the same day, by employing smart technology and qualified staff who operate remotely beyond DLD’s official working hours.
The step is expected to be widely accepted by developers, real estate brokers, landlords, government agencies, real estate management companies, and real estate registration trustee offices.
Majid Al Marri, CEO of the Real Estate Registration and Services Sector at DLD, said: “DLD continuously adopts the latest technology and develops the best initiatives… to improve governance and provide easy services to serve Dubai’s real estate market.
“The new initiative will further strengthen Dubai’s position as one of the smartest cities in the world by providing the largest number of services to the public.”
Al Marri added: “This initiative will contribute to raising the absorptive capacity of transactions carried out by DLD’s departments, where we are now able to provide real estate transaction services through real estate registration trustee offices until the late hours of working days.”
This initiative is in line with DLD’s strategy to position Dubai as the world’s first attractive investment environment, reducing customer visits and digitising all services and government transactions by December 2021 in line with the Dubai Paperless Strategy.