Overall volume of digital payments in Mena has grown nearly seven-fold since 2020
business23 hours ago
The Real Estate Registration Department in Sharjah has linked ownership and usufruct deeds to the UAE Pass, making it the first government department in the Emirates to provide this service.
The Department's customers can download ownership and private benefit deeds (ownership deed, joint ownership deed, usufruct deed, or joint usufruct deed) through the UAE app on their mobile phones, according to a statement issued on Sunday.
The UAE Pass is the first national digital identity for all citizens and residents of the Emirates, and it allows users to access the services of local and federal government agencies in a simplified and secure manner, without the need to visit government service centres.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Sharjah’s real estate market has seen unprecedented demand and growth ever since it allowed non-Arab nationals also to buy property in the emirate. This resulted in a massive flow of investments from investors across Asia, the Middle East and Europe among others.
“The Department is keen to provide an easy and smooth experience for customers while they use our services. We want them to complete their transactions efficiently, quickly, and effectively,” said Abdul Aziz Ahmed Al-Shamsi, director-general of Sharjah Real Estate Registration Department.
Al-Shamsi added this new offering is in line with the directives of Sharjah’s Executive Council for digital transformation.
The Sharjah Real Estate Registration Department reported a significant 13.1 per cent surge in transaction volume, reaching a substantial Dh27.1 billion in 2023 — the highest recorded since 2017. The diversity of investing nationalities expanded to an impressive 103, marking a remarkable 21.2 per cent growth compared to 2022. Non-Arab foreign investors experienced an astounding 165 per cent increase in trading volume and a substantial 131.7 per cent rise in the number of properties traded, while mortgage transactions reached a notable value of Dh7.5 billion.
ALSO READ:
Overall volume of digital payments in Mena has grown nearly seven-fold since 2020
business23 hours ago
In 2023, total consumption of gold in the UAE reached 39.7 tonnes
business1 day ago
Maritime India Vision 2030 envisions investment of Rs1.25 trillion
business1 day ago
Profitability, cash flow and capital expenditure guidance reiterated
business1 day ago
Swiss pharma firm has an annual capacity of 250 million tablets
business1 day ago
The total income for the period was Dh791.88 million
business1 day ago
As per the chairman of the UAE Banks Federation, the corporate tax in the Emirates is quite low compared to other countries
business1 day ago
Foreign investors took out more than $2 billion from Indian equities last week
business2 days ago