By Staff writer
A total of 550 successful transactions have been conducted using the system, collectively worth AED 600 million
The Dubai Land Department has unveiled a new registration system for real estate transactions that will allow owners to complete sales transactions from anywhere in the world, it was announced on Wednesday.
In a statement, the DLD said that the new system allows direct interaction between buyers and sellers and the finalisation of procedures through audio-visual communications.
Additionally, the verification process can be conducted remotely and digitally.
The system also facilitates money transfer through an escrow account. Money transfers can be transferred within three working days to the seller’s account.
A total of 550 successful transactions have been conducted using the system, collectively worth AED 600 million.