As part of its contribution to the Dubai 10X initiative, Dubai Land Department (DLD) has announced the introduction of the Real Estate Self Transaction "REST", a platform for conducting real estate trading and transactions with multiple parties anywhere and anytime. The new platform enables the complete digital management of real estate transactions, eliminating paper documents and reducing brokerage procedures.
DLD's new project is one of several 'Dubai 10X' initiatives launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation, during the sixth edition of the World Government Summit held in February 2018, with aim of placing Dubai 10 years ahead of other cities of the world.
The platform enables property owners, based both in Dubai and abroad, to rent their properties and pay for electricity, water, and Internet bills remotely, avoiding the need for property management and service agents. It also enables owners to appoint furnishing and decoration companies to manage the interior design and furnishing process by providing full access to online floor plans. All financial obligations of property owners' properties can be managed in association with owners associations for delivered properties and approved trustees for under-construction properties.
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Last updated 18/01/2020 02:01:55 PM
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