Government property department says that system strengthens UAE status for Global Competitiveness Indicators and supports transparency in Dubai's real estate market
Dubai Land Department (DLD)'s Ejari system has been under focus at the thirty-fourth session of GITEX Technology Week, which is currently underway at the Dubai World Trade Centre. The online property registration system recently passed the figure of one million lease contracts processed, a figure it has attained since its inception in 2010. DLD says that the system is the perfect showcase of the department's digital success.
"Our dedicated online Ejari system was able to register more than one million contracts up to the first half of this year, with this figure breaking down to 344 thousand commercial contracts and more than 677 thousand residential contracts," said HE Sultan Butti Bin Mejren, Director General, DLD.
Based on these figures, DLD says that the Ejari system plays an essential role in achieving many intangible as well as tangible benefits. The impact of the system is not confined to the positive impression it has left on the real estate market by increasing investment, but has also helped in improving the UAE's position on the Global Doing Business Index, the Global Competitiveness Index and the Index of Investor Confidence - all important transparency indicators.
Ejari is the first technical system for rent governance and for the registration and documentation of lease contracts in the Middle East and North Africa. Its success has been attributed to its building on a database that indexes the price of rent and the supply and demand in the market. The system also links to a range of additional real estate services available online and connects with other Dubai government departments.
"The Ejari system contributes to support the efficiency of Dubai's real estate market by promoting trust and transparency. It facilitates the exchange of data between Dubai government departments, especially as it relates technically to the system of Residency and Foreign Affairs. It also has an important role to play in the issuance and renewal of business licenses for real estate companies. This project has gained its positive reputation because of its uniqueness, not only at the level of our region, but across the world. It is effective because it reflects the reality of market rent values," Bin Mejren concluded.
In order for Ejari to collaborate successfully with the latest technologies of the era, the IT department at DLD continues to work on necessary updates and technological advancements for the system. An aspect of this is its linking to the e-Mart system (www.emart.gov.ae) that allows tenants to see available properties in the market, as well as enabling landlords to list their vacant properties on the portal.