First registration of Dubai residential apartment announced

The first registration of a residential apartment under the new legal framework introduced last year was announced today by the Government of Dubai Land Department.The landmark announcement signals a major step forward on the road to widespread ownership registration in the emirate, a process that could escalate into many thousands in coming weeks. The knock-on effect for Dubai's real estate market is expected to be immense, with the new framework underpinning ownership by previously excluded groups and establishing definitive rights. The registration - of an apartment in a Dubai residential tower - was approved by Jumaa bin Humaidan. Assistant Director of the Land Department, and witnessed by Majid ujail, Head of Customer Service Department. Registration was made in accordance with article 23 of the Real Estate Registration Law, issued in March last year. This covered registration of residential apartments, multi- storey buildings and residential complexes. The IT team within the Dubai Land Department had put extensive time and effort to shape up the new electronic registration system that conforms to international standards.
The Land Department is expected to issue thousands of ownership certificates for residential flats and complexes during the coming few months. Following the first 'Ijarah' transaction, today Dubai Land Department has made another step forward through the registration of residential properties. This will transform the way real estate ownership occurs in Dubai.