Circular Number R/102/2020 concerning the registration of Initial Sales Contracts
In light of the Dubai Land Department’s continuous endeavours to simplify and improve the registration services of real estate rights in Dubai, Majid Al Mirri, CEO, Real Estate Registration and Real Estate Services, issued Circular Number R/102/2020 concerning the registration of Initial Sales Contracts (“Circular”).
The Circular provides that it is no longer required for real estate developers and purchasers to sign the Standard Sale and Purchase Form generated by the Developer Self Registration (“DSR”) system for registration of Initial Sales Contracts. The Circular also confirms that the developer’s sale and purchase agreement which is signed by the developer and purchaser (together with the required documents), will suffice for the registration.
The above procedure is effective from the issuance date of the Circular, being 29 January 2020, and real estate developers can proceed to upload the signed sale and purchase agreement prepared by the developer onto the DSR system for registration purposes.
In our view, this is a very positive development which will simplify and expedite the registration process of Initial Sales Contracts.