Dubai Land Department has unveiled its most recent venture, known as the Smart Audit initiative, which aims at facilitating the real estate transactions so that they would be completed in the same day.
As per the announcement made by the primary governmental real estate authority in Dubai, more than 110 transactions have been completed in the first working week of the initiative, with the average of 16 transactions per day.
In his comment on launching the new smart initiative, Majid Al Marri, the CEO of Real Estate Registration and Services Sector at Dubai Land Department assured the department’s commitment to stay up-to-date with the latest technology advances that can serve the real estate sector to provide more high quality services and products to its stakeholders.
Al Marri added that the Smart Audit initiative will support and boost Dubai’s brand as one of the smartest destinations in the globe through increasing Dubai Land Department’s capacity for carrying transactions out and make its processes more efficient.
The Smart Audit initiative, which comes as a part of Dubai’s 10x initiative which aims at maximizing the efficiency of the governmental authorities and organizations of Dubai, is expected to be received well by the developers, brokers, investors, property management companies and other stakeholders of Dubai’s property market.
It is worth mentioning that, in May 2018, Dubai Land Department has launched the Real Estate Self Transaction (REST), a platform that aims at enabling the complete automatization of the real estate transactions.