Dubai Now App: Making Digital Property Sales Faster and Easier
The Dubai Land Department (DLD) has introduced a revolutionary Digital Sale Procedure on the Dubai Now app, transforming how cash buyers and sellers complete property transactions in Dubai. This fully automated process offers speed, security, and convenience, allowing transactions to be completed entirely online without the need for physical visits to the trustees office, dramatically reducing closing times for ready properties. This major update eliminates the need for manager’s cheques during the process.
Who Can Use Dubai’s Digital Property Payment System?
This digital procedure is currently designed for straightforward cash transactions and is available for ready properties only. Eligible transactions must involve a single buyer and a single seller, both of whom must be UAE residents with local bank accounts. Off-plan properties are not supported, and no Power of Attorney is required, even if one of the parties is traveling. By meeting this criteria the process ensures a smooth and fully automated transfer from start to finish.
How Dubai Now Facilitates Seamless Digital Property Payments
The sale begins when the seller initiates the transaction through the Dubai Now app. After logging in, the seller selects the property they wish to sell and submits a “Sell Request”. The system automatically pulls transaction details from the Unified Form F if available and calculates all fees, including the 4% transfer fee, map, deed issuance, and the DLD service fee of 1,100 AED if the sale price is over 500,000, and 600 AED if the sale price is under 500,000 AED, which replaces the traditional trustee fee.
The seller provides their UAE IBAN and signs digitally using UAE Pass. A Virtual IBAN Escrow account is then created to securely hold the funds for the transaction. This Escrow is owned by the Dubai Land Department and used exclusively for this transaction.
Once the seller has completed their step, the buyer is notified to countersign via UAE Pass. Following countersignature, the buyer transfers the funds to the Virtual IBAN Escrow within seven working days, which can be done in full or in multiple tranches, from their UAE or international bank account.
The final stage is fully automated. Once the full funds required for the transaction are received by the Escrow account, the system releases the money to the seller’s IBAN without requiring any manual approval. Transfers completed in the morning are often credited the same afternoon, and the Title Deed is issued instantly and digitally once the funds are confirmed to be in the Sellers account,with both parties notified automatically.
The service uses the Central Bank to confirm that the payment has been released from the Escrow account and deposited to the sellers, which automatically issues the title deed to the Buyer digitally at the same time. This eliminates the need for waiting for DLD auditing, or waiting for the Seller to confirm receipt of funds, as the chain of communication and actions are entirely automated
Key Considerations for Digital Property Payments in Dubai
While the process is fast and convenient, sellers and buyers must ensure that all mandatory clearances, such as Service Charge, DEWA, and Chiller (if applicable), are completed before initiating the transfer, since there isn’t a NOC being issued by the Developer or Owners Association. Any rent refunds, and service charge reimbursements need to be agreed between the parties and secured outside of the platform.
Benefits of Dubai Now Digital Payments for Property Sales
The Dubai Now Digital Sale Procedure allows for fast, secure, and fully automated property ownership transfers, providing unmatched efficiency and convenience for cash buyers and sellers of ready properties. By streamlining the process, it eliminates the traditional delays of property sales and sets a new standard for real estate transactions in Dubai.
There is no longer any need for the buyer to obtain a manager’s cheque, nor for the seller to physically cash one. The service uses the Central Bank to verify that funds have been released from the escrow account and deposited directly into the seller’s account, triggering the digital issuance of the title deed to the buyer simultaneously. This removes the need to wait for DLD auditing or for the seller to confirm receipt of funds, as the entire process is fully automated. There is also no requirement to visit a trustee in person. Once the full payment is received in escrow, it is automatically transferred to the seller, meaning the overall transfer time is determined only by standard bank processing times, not by auditor approvals.
For more information please contact Jess Stephenson the Head of Sales Progression at Allsopp & Allsopp, jess@allsoppandallsopp.com
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