Al Tayer launches Real Estate Development Guide at Cityscape’s Real Estate Summit 2020
Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of Roads and Transport Authority, RTA, launched the Real Estate Development Guide that was prepared by Dubai Land Department, DLD, in cooperation with its partners in the public and private sectors.
During his visit to the DLD’s stand at the summit in Dubai, Al Tayer viewed the content of the Real Estate Development Guide, which includes all services provided to the real estate developer in Dubai from the various parties involved in the real estate development process, explaining them in a simple and useful way as well as specifying the mechanisms for their provision and the necessary period to complete each service, its cost, and the party responsible for its delivery.
The guide, which was prepared in cooperation with 23 governmental and non-governmental entities is available in an electronic format that facilitates the browsing process. The real estate development process in Dubai has been defined through three main stages, including the licencing phase to practise real estate development activity, then the real estate development phase, followed by the post-real estate development phase.
Sultan Butti bin Mejren, Director-General of the DLD, affirmed, “We have been keen to consolidate our cooperation over the past 60 years and partner with all parties concerned with the registration, development, management, governance of lands and properties in providing services that would help relevant parties perform their business and implement their operations smoothly and easily for the benefit of all. This guide represents one of our initiatives that serve this purpose.”
In addition, it also lists all the other services provided by the licencing entities to real estate developers. The entities differ according to the location of the project, as some areas in the emirate are subject to licencing by the Dubai Municipality, other areas by Dubai Development Authority, Dubai Silicon Oasis Authority, and others. The guide also provides all the transactions needed by the real estate developer according to the different licencing bodies of the real estate project.
The directory also provides real estate developers with access to projects under construction according to the different geographical areas in the emirate in a way that would enable them to make appropriate investment decisions. It also states all laws related to real estate development.
The directory provides a first-of-its-kind tool called the “Dubai Real Estate Development Calculator” which provides the estimated cost of the project and the expected time of completion of all government services related it, which helps developers.
The guide aims to list all the services provided by the various licensing entities in Dubai to real estate developers to facilitate the real estate development process and make it more transparent.