The government of UAE is rapidly following its aim of making their country as one of the most advanced ones in the whole world. The regime is strictly following their newly-adopted knowledge-based economy and it is ready to take bold steps for this purpose also.
One such thing is seen in a recent development as UAE has offered online real estate mortgage services on worldwide level. According to latest report, UAE becomes first country in the world to adopt such decision for an extremely complicated sector. But the government is confident that it has completed homework and already taken all important measures to ensure safety in this online process.
According to details, Abu Dhabi City Municipality (ADM) and Abu Dhabi Islamic Bank collaborated to establish world’s first digital real estate mortgage certificate. The purpose of taking this difficult step is to increase digitalization of services provided by various departments of Abu Dhabi and UAE in order to take them at par with departments of first world countries.
According to officials of ADM, they have started this process successfully and are quite hopeful to achieve 100% digitalization at the start of coming year 2019. Before that, they will be able to achieve processing transactions by the end of 2018. This will certainly assist in reducing the time needed to complete this procedure. Apart from that, it will also make this process quick, simple and easy to understand for both parties.
But ADM is not unaware about risks behind the successful completion of this project. They know that a slight mistake can prove very costly. It is the reason that the whole system is based on sophisticated and foolproof method that will ensure quick and reliable completion of service.
The system used for this process is transparent and secure. It will also preserve the confidentiality of registered person. Currently, 6 leading banks have agreed to work as partners of the system and it is expected that others will join soon.
This latest news clearly reveals that different government departments in UAE are working hard to provide best services to their clients according to international standards. This latest step will make it easier for real estate companies to do business and common people to purchase or rent a building in Abu Dhabi. We at Riz & Mona Consultancy provide PRO services for easy completion of these services. There will be nothing for you to worry in this regard after contacting us through WhatsApp # 971-56-9971225.