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Dubai Land Department (DLD) announced its participation in the activities of the fifth UAE Innovation Month that launched in February under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, under the theme ‘The UAE Innovates.’
The activities of Innovation Month take place all over the country to support the innovators and creative minds in each of the seven Emirates and achieve the principle of equal opportunities. Dubai will host Innovation Week 22 – 29 February, where DLD, through its various sectors, including the Real Estate Regulatory Agency, the Dubai Real Estate Institute, and the Rental Disputes Center, will be one of the most prominent participants and supporters by showcasing many of its latest innovations.
HE Sultan Butti bin Mejren, Director General of DLD, commented: “Through our participation over the past five years, we are keen to be one of the major supporters and contributors to Dubai Innovation Week since it began five years ago. Through the innovations of our sectors, departments, and divisions, we align ourselves with the objectives of this initiative and the vision of HH Sheikh Mohammed bin Rashid Al Maktoum. We also strive to attract the largest possible number of different audiences to be an inspiration for Emirati youth as well as educate the public about our innovative services and applications, contributing to the UAE’s preparations for the next 50 years for its wise leadership’s objectives to rank first in all fields in the world.”
DLD’s innovations:
Over the course of a full week, DLD will organise the ‘Innovation Corner’ on the ground floor, which constitutes an innovation platform to showcase a wide range of the latest innovations developed by DLD’s sectors, where specialised teams will be ready to meet with the public and provide them with the necessary explanations and clarifications. DLD will also launch the ’60-year innovation challenge’ to motivate customers and visitors to participate in this event and inspire them as well as spread enthusiasm and innovation among them.
Comprising eight government and private entities involved in providing residency services for investors, Cube Centre is one of the services provided by the Real Estate Promotion and Investment Management Sector to provide real estate investors with the right to obtain a residency visa for a period of three or five years, renewable under specific conditions and procedures. Cube is a one-stop-shop to apply for investor services with the aim to reduce customer effort and time, enhance Dubai's position by making it the preferred destination for living and working, attract foreign capital, and encourage direct and indirect investment in support of the Emirate's economy.
Dubai Land Department developed the new electronic system, Mollak, which is the first of its kind in the world. Mollak has proven its feasibility, in record time, in terms of its governance of the real estate sector, enhancing transparency, and establishing global leadership for Dubai’s real estate sector. The system helps real estate stakeholders, including developers, owners, investors, and management companies, to comply with the requirements of registration and management of jointly owned properties. The system includes other important benefits, including the approval of service charges by relying on a new and integrated system for monitoring and regulating jointly owned properties in Dubai.
Dubai REST is a smart real estate services platform that came as a result of the Dubai 10x initiative. It allows investors and owners to make real estate investment decisions through an integrated set of digital transactions, eliminating paper documents and reducing brokerage procedures with the aim of strengthening Dubai’s position as a global destination for real estate investment. The project aims to free Dubai’s real estate market from procedural restrictions, keep pace with the changes taking place in the market, meet the needs of owners, and help them conduct all transactions without the need to visit DLD or its service centres, or even visit Dubai if they are transacting outside the Emirate.
The Smart Valuation service aims to provide an instant, reliable, and robust property valuation service by eliminating the required documents through the integration of local databases and external systems. The service allows customers to receive the title deed on the same day, making it a global first-of-its-kind for real estate valuation due to its reliance on artificial intelligence and machine learning technologies. The Smart Valuation project will be implemented in several stages, from units to villas and then lands. The project aims to reduce the time spent in the valuation process from several days to seconds, ensuring the accuracy of information and reducing the cost of service.
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