Through the Central Bank's Direct Payment System
DLD allows rent payments through bank accounts without cheques
Dubai Land Department (DLD) has announced the possibility of paying rents through the Central Bank of the UAE's Direct Payment System, in order to facilitate the journey of customers within the various procedures related to the department and its services.
DLD stated that its move comes as part of its strategy to empower the real estate community through proactive real estate services and leading digital infrastructure.
According to the system, tenants can now pay rent without cheques, through direct payment channels for rents in Dubai, through their bank accounts through the "Noqodi" portal, which authorizes tenants to pay directly, after fully integrating the "Ejari" application with the "Noqody" system, which provides the possibility of scheduling the payment of rental fees upon signing the new contract, or in the event of renewing the contract.
The system is characterized by the ease of procedures that the customer must follow to set up the electronic wallet in Noqodi system, thus reducing the debts incurred by the tenant or the owner alike, due to other payment methods.
According to DLD, through the system, direct payments can be arranged according to the terms of the contract, without the need for checks, thus preventing owners and property managers from dealing with post-dated cheques, providing more flexible payment options for tenants, facilitating the process of buying and managing properties, and collecting rents easily for individual investors from outside the country.
The direct payment system will ensure awareness, trust and transparency in the real estate sector, and harness technology to develop real estate products, thereby enhancing the effectiveness and efficiency of operations and corporate governance.
Real Estate Transactions
In addition, real estate transactions in the Dubai Land Department (DLD) yesterday amounted to more than AED 2.2 billion.
The department witnessed the registration of 512 sales worth AED 1.33 billion, including 28 sales of land worth AED 134.29 million, and 484 sales of apartments and villas worth AED 1.2 billion.
The most important land sales were AED 30 million in Palm Jumeirah, followed by AED 15 million in Jumeirah First and AED 10 million in Al Hebiah V.
Al Hebiah Fifth topped the regions in terms of the number of sales, recording 16 sales worth AED 53 million, followed by Al Yafra 2 with three sales worth four million dirhams, and Palm Jumeirah with two sales worth AED 30 million.
A sale worth AED 26 million in Al Hebiah Fourth was the most important sale of apartments and villas, followed by a sale worth AED 15 million in Al Sufouh II and a sale worth AED 14 million in Burj Khalifa.
Nad Al Sheba First topped the regions in terms of the number of sales of apartments and villas, recording 99 sales worth AED 452 million, followed by Business Bay with 49 sales worth AED 78 million.
Mortgages recorded a value of AED 823.17 million, including 15 mortgages for land worth AED 35.73 million, and 75 mortgages for villas and apartments worth AED 787.44 million.
As for the donations, 123 donations worth AED 86.06 million were recorded, the most important of which were in the "Wadi Al Safa 5" area with a value of AED 59 million, and another in the "um Al Sheif" area with a value of AED 11 million.