The Dubai Land Department (DLD) has signed an agreement with seven top real estate developers in the emirate to allow them to use its registration system, drastically cutting real estate transaction time.
The agreement means that the developers can directly register and audit the transactions on the system, which will slash the time it takes to buy a property in Dubai.
Emaar Properties, Damac, Binghatti Properties, Aldar Properties, Sobha Realty, Azizi Developments and Danube Properties have all signed the agreement with the DLD.
The deal makes registering a property on the DLD’s system faster, reducing time from days to a matter of minutes, while also increasing capacity.
In July this year, Emaar Properties recorded 2,077 transactions in the off-plan segment, the highest of all developers in Dubai, giving the developer a 23 per cent share of the market.
12,900 and 3,925 villas were handed over in the first half of 2024.
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