Dubai Land Department announced yesterday that it has completed the electronic connection with Emaar Properties' residential system for the management of complexes for the management of jointly owned properties, in order to allow customers to pay service fees through a number of channels, namely the application of «Dubai Rest» Malak, or through Emaar's payment channels.
In a statement, the department said Emaar is the first major real estate developer to integrate with the Malak system, which has been developed internally in Dubai.
The department explained that when the customer creates his own account on «Malak», he can get a statement showing all the data related to his operations, including pending or completed payments of service fees to all parties involved, including real estate developers and owners of real estate units and investors, and committees Landlords and property management companies have joint ownership, complying with all the requirements of registration and management of real estate regulation.
She added that the system «Malak» is an innovative electronic platform based on the website, making it the first of its kind in the world, because of the new innovations, contribute to ensure justice and transparency.
She pointed out that the platform was developed by the Real Estate Regulatory Agency (RERA) to register the committees of owners that are part of the jointly owned real estate, indicating that the list of services provided by the platform include the registration of jointly owned real estate and owners committees and management contract and request for approval of services fees and no objection .
For Dubai Rest, the first digital real estate market in Dubai, Dubai Land has shown that it allows investors and landlords to make real estate decisions through a full range of digital procedures and services, without the need for paper documents to minimize procedures.
She added that the application aims to contribute to the consolidation of the emirate's position and a global destination for real estate investment, as it allows each customer to open a personal portfolio, and access to real estate information and approximate values of real estate assets.
The CEO of RERA, Eng. Marwan Bin Ghalita, Managing Director of Emaar Properties Group, Ahmed Thani Al Matrooshi, was honored for the recognition of Emaar and the Order of Excellence in Real Estate, in recognition of the significant and influential role in enriching the Dubai Real Estate Market with a wide portfolio of outstanding projects that have contributed Dubai at the global level. “The initiatives we are launching at the department aim to support our vision of making Dubai the world's premier real estate destination for innovation, trust and happiness, and to translate our mission to create an innovative and sustainable global real estate environment that will make Dubai the happiest city in the world,” he said.
He added: “In this sense, the Department is witnessing a radical transformation in its operations to provide smart services, and optimize the use of our financial and human resources, in addition to providing the sector with legislation and integrated real estate services, most notably the application of (Dubai Rest) and the system (Malak), to achieve the highest levels Quality, sustainability and innovation, and contributing to the overall economic development of Dubai. ”
“The Malak system is designed to help developers, owners, investors, owners' committees and management companies to meet their regulatory requirements and provide them with a simple and effective way to register jointly owned properties,” he said. Building management, based on a unified database, to store, update and update all relevant records. ”
He pointed out that «the importance of the innovative system is to use the latest technologies in the real estate sector of the Emirate of Dubai, including the techniques of artificial intelligence and (blockchain)».
Al-Matrooshi said that Emaar is always keen to support the initiatives and projects of the Department of Land and Property, in addition to the continuous coordination with them to ensure the best levels of performance for the various operations that ensure the comfort and happiness of all parties in the market, and the effective organization of transactions and transactions, Benefit the whole market. ”
He added: «We are always keen to be (Emaar) the first company to apply the best procedures that facilitate all customers to work and save them time and effort, and at the same time, we express our pride in the honor we received from the Real Estate Regulatory Authority, and this will be an additional incentive for us To achieve more excellence ».
Dubai Land Department stated that the main objective of Malak system is to provide an online registration and support system for the concerned parties dealing with jointly owned properties in the Emirate of Dubai. Projects, based on financial accounts operating under the escrow account mechanism.