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The Dubai Land Department (DLD) and Majid Al Futtaim Communities, part of Majid Al Futtaim Properties, has announced their ambitions to drive digital initiatives across the industry and simplify the process for potential homeowners
At the forefront of these, the “digital real estate transactions”, which would enable the digitalisation of real estate sales transactions in Dubai.
A move to electronic real estate transactions will not only significantly reduce the time required to complete transactions but will also enhance the customer experience by eliminating the need to be physically present to sign and submit documentation. Buyers would be able to complete and submit the required paperwork digitally from the comfort of their own home or office, regardless of where they are located in the world.
“In a world defined by the speed and convenience of online and on-demand services, it is essential for the real estate industry to utilise digital tools and automated processes. The Digital signature would make it possible to conduct real estate business from any place and anytime, at buyer or investor comfort. As Dubai continues to position itself as a global hub and innovative city, we are excited and happy to support Majid Al Futtaim Communities in enhancing the real estate landscape and driving digital innovations,” said Sultan Bin Mijrin, director general at Dubai Land Department.
The competitive real estate market in Dubai has been witnessing strong growth dynamics, with many international investors showing increasing interest. The introduction of new visa reforms, the ease of business ownership, as well as the economic impact of Expo 2020 Dubai have strengthened the UAE’s position as a hub to live and work and created a perfect opportunity for real estate owners and investors who are on the lookout for a strong property market. The “digital real estate transactions” initiative aims to increase property sales efficiencies, creating a simplified process for both investors and customers, allowing the industry to remain attractive and flexible for both investors and homeowners from around the globe.
”As we aim to become the region’s most customer-centric developer, we are excited to work alongside Dubai Land Department (DLD) to create a more innovative industry. The initiative would not only allow us to mark the next step in our industry's digital transformation journey, but it would also enhance our customers' experience, offering seamless and safe transactions regardless of their location.” commented Hawazen Esber, CEO, Majid Al Futtaim Communities.
Supporting the countries’ vision and its ambitions to drive collaboration across the industry, Majid Al Futtaim Communities recently presented DLD with a special award, thanking them for their ongoing support and efforts towards enhancing the real estate landscape. The award also expresses Majid Al Futtaim’s continued support and commitment, as the country aims to become the number one hub for global economy and innovation.