The Real Estate and Land Department in Dubai has signed a contract with Emirates NBD to provide a digital rental payment service.

In Dubai, the Department of Land and Real Estate signed an agreement with the National Bank of Emirates to provide a digital rental payment service on July 6, 2022. The collaboration between the Department of Land and Real Estate in Dubai and the National Bank of Emirates, a financial group operating in the Middle East, North Africa, and Turkey, aims to enhance the real estate sector and streamline processes and procedures in the UAE.

To support the rental market, the rental payment and online verification process will soon be automated through the use of a direct debit system from the UAE Central Bank as part of the Dubai government's vision of paperless payment systems. This collaboration will allow property owners and management companies to eliminate the need to manually manage pending checks.

According to Hisham Abdallah Al Qasim, Vice Chairman and CEO of the National Bank of Emirates: "The National Bank of Emirates is pleased to collaborate with the Dubai Land and Property Department on these strategic initiatives that facilitate the provision of an automated rent management system for owners and tenants, as well as ease the process of purchasing real estate for new foreign investors in the country."