(MENAFN- Khaleej Times) The Dubai Land Department (DLD) has announced that real estate registration trustee offices have helped it to achieve an annual saving of approximately Dh45 million through 18 offices located across Dubai.
Saad Abdulla Al Hammadi, director of finance and administrative affairs at DLD, said: "The offices represented around 23 per cent of the department's total revenues in 2015 and this figure increased to a record 33 per cent in 2016. The success of this experiment is clear and the service is increasingly popular with customers as it provides them with convenient services."
Al Hammadi added that the registration trustee offices rely on national staff. The cost of sales services has been reduced by 53 per cent, while mortgage services and the mortgage clearance service now cost 67 per cent and 78 per cent less respectively.
One of the most important features of the offices is they provide customers with services outside of DLD's official working hours, which ensures greater flexibility for clients and allows them to complete their transactions more conveniently.
Saeed Al Khussaibi, director of monitoring at the real estate registration department, said: "The aim of launching the registration trustee offices was to introduce a system that allows numerous offices in Dubai to register real estate transactions through multiple branches that operate outside of DLD's working hours and business days."
Al Khussaibi said the system has helped to provide real estate registration services on a significantly wider scale in Dubai. It has also contributed to increasing the speed of investor procedures by removing the need for them to book appointments and wait at the DLD's headquarters.The system has also helped reduce the burden on DLD staff and accelerate the speed of transactions.
The system provides registration services for sales, mortgages, tenancy agreements concluding with acquisitions, alongside a range of other DLD procedures. The registration trustee enters the procedure data, issues the initial contracts and then sends the procedure to DLD with the required documents. The procedures are checked against DLD regulations before approved contracts are issued and delivered to investors by courier services within 48 hours of receiving the transaction. This removes the need for investors to follow up with DLD.-
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