A series of improvements aimed at improving the property registering process has been announced by the Dubai Land Department.
The larger the transaction, the more paperwork seems to accompany it, and purchasing real estate is certainly no exception. Hoping to improve that complex process, a series of improvements aimed at improving the property registering process has been announced by the Dubai Land Department, meaning that investors should find it easier than ever to navigate their way to ownership. Among the improvements revealed are new service centres and a standard contract for property transactions.
The improvements have already caught the attention of the World Bank, who place the UAE 22nd in the latest World Bank’s Doing Business 2015 Report. The report notes that the UAE was the only Arab country in 10 regional economies that has introduced quality regulatory improvements in the ease of doing business.
The report measures the ease of doing business in 189 economies based on 11 business-related regulations, including business start-up, getting credit, getting electricity, and trading across borders.
The UAE beat several countries with proven track records in doing business such as The Netherlands (which came in at 27), Japan (29th), Turkey (55th) and Italy (56th).
The UAE’s Minister of Economy Sultan Al Mansouri said the country’s ranking in the report was boosted by efforts to enhance the economy and create a business-friendly environment in order to achieve balanced, sustainable development. He stressed the vital importance of the continuous reform to continue seeing improvements for the region’s investors.
By Jola Chudy