A new online real estate transfer system, called Oqood, is now up and running in Dubai. The Real Estate Regulatory Agency (RERA) said that Al Fajer Properties was the first to use the new system that has been developed in conjunction with Emirates Real Estate Solutions, a subsidiary of the Dubai Land Department.
The online platform will help to ensure accountability and transparency throughout the property buying and exchange process. It tracks developer and end user information and RERA has decreed that no registered property sale or transfer can take place unless it goes through the system.
“The new guidelines and systems developed by the Land Department will bring a better sense of transparency instilling more confidence in the market. We are confident that this will not only be beneficial for the Developers and our customers but for Dubai as a whole,” said His Highness Sheik Maktoum bin Hasher Al Maktoum, President of Al Fajer Properties.
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