Dubai’s real estate market is thriving. There is huge demand for residences in prime areas of Dubai, as more people choose Dubai for work and business purposes. Dubai’s growing status as a top property investment hotspot owes a lot to the Dubai Land Department.
Dubai Land Department: Strong growth driver
A key driver of Dubai’s property market growth has been the Dubai Land Department (DLD). Established in 1960, DLD oversees Dubai’s real estate sector. It ensures transparency and efficiency, protecting the rights of property owners, tenants, and investors. DLD’s strong oversight has played a key role in enhancing Dubai’s status as a top real estate investment destination.
RERA-a Division of Dubai Land Department
In 2007, DLD formed a regulatory division named RERA (Dubai Real Estate Regulatory Authority) aimed at safeguarding home buyers’ interests and encouraging investments in the sector.
Services
Two of DLD’s primary functions are property registration and transfer of ownerships. The department tracks all real estate transactions. Its mandate includes issuing ownership certificates and enabling developers to open off plan escrow accounts.
The DLD’s services also include property and lease valuations, legal advisory, mortgage registration, and real estate brokerage licensing. Beyond these, DLD offers a host of e-services, and holds public property auctions.
DLD also has powerful Rental Dispute Settlement Centres. Its services extend to legal & advisory, and ownership & leasing, along with registration of rent-to-own properties.
Top investment destination
With a strong regulatory body, Dubai’s real estate market is stable and secure, making it attractive for global investors. Make a smart move by investing in Dubai’s lucrative properties in prime areas. Contact QSA Real Estate for a free consultation with one of our expert brokers.
