Dubai Land Department sets up land registry service in Emaar office
The Government of Dubai Land Department, the emirate’s registry and premier land transactions platform, today announced it had taken the groundbreaking step of offering its services through the office of a major developer. The move enables investors in Emaar’s properties to register their transactions on site at the developer’s Sheikh Zayed Road office.
The initiative, which is expected to be extended later to include other developers, has eased the process of registering rights to real estate in Dubai and adds support to the new framework for property ownership. A Department spokesman said the move had been initiated in accordance with the vision and wise leadership of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which requires Government offices to place themselves at the convenience of the customers they serve.
The initiative, which is expected to be extended later to include other developers, has eased the process of registering rights to real estate in Dubai and adds support to the new framework for property ownership. A Department spokesman said the move had been initiated in accordance with the vision and wise leadership of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which requires Government offices to place themselves at the convenience of the customers they serve.
Mr. Ali Al Jezeeri, Head of Transactions at the Department, said: “As a result of this Land Department initiative it has become possible to register any type of real estate transaction in the relevant designated areas from Emaar’s office. This is a significant breakthrough and a huge step forward in establishing the rights of real estate owners in the emirate.”In order to push through the initiative, the Land Department opened a remote division within Emaar’s Sheikh Zayed Road office. Mr. Al Jezeeri said: “The Department is keen to ensure its facilities are readily available to its clientele. Obviously, one of the most convenient locations is where their real estate is situated, rather than an office some distance away.
He added: “This service will be particularly useful for expatriate owners and investors seeking to acquire freehold property. It makes it easy to register their properties and establish ownership, thus avoiding complications later. This move will have a significant impact on Dubai's real estate market and consolidates steps taken earlier to put in place a secure basis for ownership.”
He added: “This service will be particularly useful for expatriate owners and investors seeking to acquire freehold property. It makes it easy to register their properties and establish ownership, thus avoiding complications later. This move will have a significant impact on Dubai's real estate market and consolidates steps taken earlier to put in place a secure basis for ownership.”
2 comments:
It looks to me as the Government is desperately supporting Emaar in the last week in different ways. Is it Emaar a sinking ship or ...?
Because Emaar doesn't want to pay dividends to the shareholders this year, but re-invest the money...or at least only 20% bonus. But you see the share holders are angry and in response want to get rid of the Emaar shares. Therefore the index drops down by few percent. So, Emaar is trying to reinstall confidence by showing the kids bigger more colorful candies looking as Marvel parks and Turkish super skyscrapers.
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