Monday 25 March 2019

Mohammed Yahya

Dubai to deploy AI to verify lease contracts

DUBAI, April 20, 2018

Dubai Land Department (DLD) has announced that from this month, it will be using artificial intelligence (AI) to verify 2.5 million lease contracts in the Emirate..

The new technology is part of DLD's latest governance system for verifying lease contracts, and the AI will be used to correctly match contract signatures with those in the department's database.

The new system is aligned with the 'UAE Strategy for Artificial Intelligence' launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which represents a new stage in the development of the UAE as the nation progresses toward global leadership by improving government performance.

 Mohammed Yahya, deputy executive director of the Rental Affairs Sector at DLD, said: "We at DLD are constantly looking for the best advanced technology solutions to prevent interference with the lease contract registration process. The new system will detect the presence of fake companies, especially those with no documented headquarters on their commercial licenses. These actions are part of our integrated initiatives that aim to enhance transparency across all operations, including those related to other economic sectors."

 The new technologies will be used on all 2.5 million registered lease contracts in the 'Ejari' database to enforce governance and control over lease registration.

Yahya added: "Our real estate sector has acquired global fame thanks to the confidence we are spreading and consolidating among all relevant parties. AI is the latest technology we have adopted to perform matching and verification, representing an ideal solution to any illegal transactions related to lease contracts and documentation."

 The DLD organisers of the new technical project hope to enhance the standards of governance and transparency in lease contract audits, ensure the safety and security of the community, and preserve the rights of owners and tenants. This will strengthen confidence and security, and put an end to manipulation and fraud with regard to leases contracts and fake companies. – TradeArabia News Service

Tags: Dubai Land Department | Ai |

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