The Dubai Land Department confirmed that video calls have become a reliable, reliable and established method, in addition to office work, to register the sale and purchase of real estate investors from outside the country, after the department approved the system of registering property ownership remotely, last May.
This came on the sidelines of a virtual seminar, organized by the department to launch the virtual platform “Invest in Dubai”, which brings together investors, brokers and real estate developers.
Fast operations
The director of the real estate registration sector in Dubai, Majid Al-Marri, said that the current conditions the world is currently experiencing contributed to the acceleration of a partial implementation of the new property registration system, so that the department can provide real estate transactions that are fast and guaranteed, and that they are registered even in the absence of capacity All parties to pledge allegiance to the presence of the Registrar, indicating that this applies to many investors outside the country.
Al-Marri added that a “guarantee” account was launched to guarantee the right of the seller and the buyer when dealing remotely, in addition to exempting from the fine of non-registration, or the penalty of delaying registration.
He stated that the process of registering and selling real estate takes place within minutes, in case the necessary papers are available, and the security verification is available from the personalities in electronic form, in addition to other conditions, including the possibility of transferring funds from any country, and in various currencies.
Direct communication
Al-Marri indicated that the new system enables communication with the seller and the buyer directly, and documenting procedures through video calling, in addition to multiple methods to verify the owner and his consent to the sale, as well as ensuring the transfer of funds through the “guarantee” account, through which the funds are transferred, through Three working days, to the seller's account.
He explained that the registration procedures are carried out by sending the details of the sales pledge to the registrar, and after verification of the property and the parties and the amount of the disposal, the amount of the sale is transferred to the “guarantee” account, which is managed by the Land and Property Department, and then verifies the seller and the buyer through visual communication and procedures The other to verify all parties, after which the transfer of ownership from the seller to the buyer is completed, the amount is transferred to the seller and the title deed is transferred to the buyer.
Al-Marri pointed out that although this system takes a longer time than the standard registration method, it guarantees more accurately the seller's rights and the safe transfer of the sales value.
«Invest in Dubai»
In addition, Dubai Lands, through the Real Estate Investment Promotion and Management Sector, launched its new initiative “Invest in Dubai”, under the slogan: “Discussing emerging opportunities in Dubai as a real estate investment destination.”
The initiative aims to highlight Dubai's position on the world real estate map, and to highlight real estate investment projects, through an automated virtual platform, that includes all groups working in this field such as developers, investors and real estate brokers, and linking them with investors around the world.
The department had sent an electronic invitation to media representatives to attend the official launch of the direct real estate investment initiative, through the virtual platform "Invest in Dubai".
The event, which was broadcast live via the podium during a virtual seminar, witnessed a number of real estate developers, in addition to representatives from the banking sector and a number of the department's partners.
“Dubai is recording successes that reflect the flexibility of government performance at all times, which qualifies it to enter an important stage that reflects the strength of its real estate environment and its attractiveness,” said Sultan Butti bin Mejren, Director General of Dubai Lands, in his speech to the participants of the virtual seminar.
Attracting investments
Magda Ali Rashid, Executive Director of the Real Estate Investment Promotion and Management Sector, said: “Through our new initiative, we will focus on inviting the most prominent real estate experts to work together, through this platform from all parts of the world, to build new relationships and contribute to attracting investments Real Estate, in order to build an exceptional global city by all standards, highlight its features, and invest our sincere efforts to achieve lofty goals, guided by them to move towards the future with solid confidence. ”