Dubai Land Department (DLD)’s ability to complete real estate deed transfers within 30 minutes has earned it a fourth place position on a prestigious international business ranking tool. The speed and accuracy of the Department’s transferal of real estate title deeds has been recognised by the World Bank, who ranked it fourth in the World and first in the Arab World for property registration on the organisation’s Doing Business Index.
DLD’s fourth place ranking is the result of its recent work to streamline transaction procedures and simplify deed transferals in order to better serve clients. The approach has meant that such transfers can be completed within half an hour at DLD’s main office, or at any of its 12 satellite Registration Trustee Offices, a policy that it says has increased its levels of customer satisfaction.
“Recently we have stepped up our efforts to improve our customer experience and one of the ways we have achieved this is by facilitating the easy, fast and accurate transfer of real estate title deeds,” said Sultan Butti Bin Mejren, Director-General of DLD.
“This customer-centric approach, which forms part of DLD’s framework of excellence, has not only benefited our clients, it has also earned us this important recognition from the World Bank,” he added.
DLD’s ranking on the index, which focuses on monitoring the transparency and eases of real estate registration in markets across the world, was gained following its application of a ‘one action’ procedure. The newly implemented policy facilitates transactions within 30 minutes or less, enabling DLD to advance eight places from its 2012 position on the index.
DLD’s “One process” procedure forms part of its over-arching strategy for supporting the Dubai government’s drive to be organised and ready to host World Expo 2020, the largest marketing event in the world.
Bin Mejren commented that DLD had formed a dedicated team to push the department to the global first place position on the index as part of its preparations for the forthcoming exhibition. He also noted that its current fourth place position on the chart was already especially impressive because of the stronger mechanisms that it employs to safeguard transaction procedures.
“Some countries real estate regulations only require title deeds to be registered by a public notary, whereas Dubai applies a more robust mechanism through its use of the Land Registry to support the issuance of property, meaning that the 30 minute timeframe is particularly remarkable,” said Bin Mejren.
“It is noteworthy that the international commission looked at all real estate registrations in countries around the world, with commission members praising DLD’s one action as being an important tool in simplifying property transactions,” he added.