Dubai Land Department Partners with Etisalat to Implement Blockchain Technology
The Dubai Land Department (DLD) has signed a memorandum of understanding (MoU) with Emirates Telecommunication Group Company (Etisalat) to implement blockchain technology in the Ejari system. This partnership aims to enhance the efficiency and security of real estate transactions in Dubai.
Blockchain technology to revolutionize real estate transactions
The MoU is part of the DLD’s efforts to implement smart government standards, reduce customer visits, and promote digital contracts. The partnership will enable the DLD to provide telecom services through the Ejari application, which will be connected to Etisalat’s systems.
Under the agreement, the DLD will determine the quality of services related to the Ejari application and Real Estate Blockchain technology. Etisalat will be granted a non-exclusive right to include its services when registering Ejari contracts, including internet services and landline and mobile phone lines.
Ejari application to be integrated with Etisalat’s systems
Sultan Butti bin Mejren, Director General of DLD, stated that the adoption of blockchain technology is a significant milestone in the department’s efforts to align with the Dubai Blockchain Strategy. He emphasized the importance of partnering with elite partners like Etisalat to achieve a smart and secure database that brings together all real estate contracts.
Khalida Alzeraim Al Suwaidi, CEO of Emirates Real Estate Solutions (ERES), highlighted the potential of blockchain technology in developing registration and verification processes. She noted that the technology can be implemented quickly, safely, and effectively for all network parties and participants.
Abdullah Salem Al Mana, General Manager of Dubai Region, Etisalat, emphasized the company’s commitment to providing state-of-the-art technologies to the private and public sectors. He stated that the partnership with DLD is in line with Etisalat’s strategy to deliver advanced solutions that enhance customer satisfaction and improve the quality and efficiency of services.
Etisalat partners with DLD to deliver advanced solutions
The partnership between the DLD and Etisalat is expected to provide unparalleled services to landlords and tenants in the early stages, with later stages covering developers and investors. The implementation of blockchain technology is expected to bring about a significant transformation in the real estate sector in Dubai.
Dubai’s real estate sector set to undergo a significant transformation
In conclusion, the partnership between the DLD and Etisalat is a significant step forward in the implementation of blockchain technology in Dubai’s real estate sector. The adoption of this technology is expected to bring about greater efficiency, security, and transparency in real estate transactions, ultimately benefiting all stakeholders involved.
