It was signed by "Dubai Lands" and "Emirates NBD"

An agreement that allows the payment of rental checks in Dubai using direct debit from the account

The Dubai Land Department has partnered with Emirates NBD to collaborate on a number of prominent initiatives aimed at strengthening the real estate sector, and facilitating and simplifying its operations and procedures in the UAE.

rent checks

A statement stated that to support the rental market, the payment of rent checks will soon be automated and digitized, by enabling the collection of rents using the "Emirates Direct Debit System" of the Central Bank of the Emirates.

The statement explained that in line with the Dubai government's vision for paperless payment or payment systems, and the "Dubai X10" initiative, this cooperation will allow property owners and property management companies to benefit from eliminating the administrative activities required to manually manage post-dated checks.

It will also provide a seamless digital alternative for tenants to pay rent, using their bank account, instead of issuing checks according to current practices, allowing them to also benefit from flexible payment plans from landlords, or property management companies.

Non-resident accounts

Individual investors from outside the country looking to buy real estate in Dubai can also easily open savings accounts for non-residents with Emirates NBD, which helps in facilitating the process of buying and managing their properties, and collecting rents easily.

Foreign investors will be supported by a specialized relationship management team to facilitate the process of completing the account opening procedures.

digitization of services

"The real estate sector in the country is one of the best and most competitive in the world," said Sultan Butti bin Mejren, Director General of the Dubai Land Department.

He added: "Within the framework of our mission to provide a regulatory environment to serve tenants and property owners, our conclusion of this partnership with Emirates NBD comes in line with our efforts to fully digitize our services in accordance with the (Dubai Paperless Strategy)," stressing that this cooperation will contribute to facilitating and simplifying Operations in the real estate market, through the use of advanced means, as we move towards replacing the old systems in place.

automated system

For his part, Vice Chairman and Managing Director of Emirates NBD Group, Hisham Abdullah Al Qassim, said: “Emirates NBD is pleased to cooperate with the Dubai Land Department in these strategic initiatives that will contribute to providing landlords and tenants with an automated system for collection and management. rents, in addition to facilitating the purchase of real estate for new investors who are not residing in the country.

He added: "(Emirates NBD) will remain committed to supporting initiatives that will support and enable the strategic goals of the UAE in the long term, and enhance Dubai's position as a preferred investment destination for international real estate investors."

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