Thursday, May 11, 2017

Dubai mulls plan to regulate lease registrations

Dubai Land Department (DLD) has announced that it will be developing an action plan through its Rental Affairs Sector to regulate lease registrations in Dubai’s Freehold and Free Zone areas.

The step is being taken to facilitate services in all of these areas for customers from all categories.

The Rental Affairs Sector is cooperating with a number of developers to coordinate the successful implementation of the new plan, which promises to provide ease of service to customers. The regulated action plan has the support of Dubai Investments Park (DIP) - the unique integrated commercial, industrial and residential community in the Middle East and wholly-owned subsidiary of Dubai Investments PJSC, where officials from both DLD and DIP met to discuss the regulation of lease registrations and associated services, the responsibilities of the different parties, and methods for improving customer services.

Hamdan Al Madhani, director of the Rental Relations Regulatory Department at DLD, said: “We are pleased to partner with Dubai Investments Park and exchange best practices that will help us to achieve strategic objectives and shared goals, while ensuring that we adhere to the regulations in place at our respective departments. We at DLD are keen to support the success of real estate projects in the UAE, and to provide our customers with easy, convenient services that enhance their happiness and satisfaction.”

In line with these objectives, Dubai Investments Park has agreed to fulfil DLD’s requirements in phases, including updating relevant data for all properties that are under DIP jurisdiction and registered in DLD’s Ejari system.

Ammar Al Duwaikh, deputy general manager of the Commercial Department at DIP, added: “Dubai Investments Park is thankful to Dubai Land Department for its support in all of our initiatives. The department has been a strong partner in DIP’s success since its inception, and DIP appreciates the guidance of Dubai Land Department and its various sub-divisions in all of the endeavours which have been pivotal in our growth journey over the past 17 years.”

DIP and DLD also agreed to establish a registration mechanism for DIP properties through the relevant department. DIP is mandated with training candidates and granting them permission to use the rental system. This department will organise and follow up on notifications to investors within DIP to register land rights and use and modify conditions under the supervision of DIP.

The procedures for registering property leases under DIP management and all associated services were taken into account, including procedures for fee collection and methods for reducing time and effort, boosting customer satisfaction and achieving the government’s directives. DIP regularly coordinates with DLD for relevant approvals to ensure compliance with regulations including real estate registrations, Real Estate Regulatory Agency regulations, tender registrations, Ejari and more.

In a related development, DIP presented certificates of appreciation to DLD officials in recognition of the department’s support in various DIP initiatives over the years. Ammar Al Duwaikh awarded the certificates to DLD officials.
   
DIP has adopted stringent measures to ensure that all residential, commercial and industrial units and buildings within its zones operate in accordance with DLD guidelines, and that all land registration procedures and processes for DIP and its tenants are aligned with the department’s framework. – TradeArabia News Service



from Construction Realestate


Links topic: http://www.wegocasablanca.com/2017/05/dubai-mulls-plan-to-regulate-lease.html