Dubai Land Department (DLD) has successfully completed 647 amicable real estate settlements worth more than AED1.38 billion ($375 million) during the first half of 2024 via its Oqoodi platform service.

 

DLD said 100% of the settlement agreements were approved through the platform, thus facilitating and expediting real estate settlements. This achievement has enhanced the effectiveness of managing disputes and providing a safe and reliable method for confirming and legally documenting each party’s agreement to the terms.

 

The department is dedicated to finding amicable settlements to resolve property disputes peacefully, serving as a valuable resource for investors and developers. 

 

DLD boasts capable and qualified legal specialists to manage settlements between parties, ensuring their rights through specialized consultations and careful analysis of disputes. 

 

This approach contributes to quick and effective solutions without resorting to the courts, therefore maintaining good relations and saving time, effort, and expenses associated with judicial proceedings. Additionally, the department legally documents agreements to ensure full compliance, thereby enhancing the confidence of developers and investors and promoting continued cooperation between them.

 

Abdullah Al Zarooni, Legal Support Section Manager at DLD, pointed out that these amicable settlements underscore the vital role played by DLD in encouraging reconciliation through the Oqoodi Platform. 

 

"This approach is an effective mean of resolving disputes swiftly and efficiently, achieving investor satisfaction and happiness. These settlements enable parties to proceed with their investments, ensuring that real estate projects continue without delays and effectively support multiple industries linked to construction, he stated.

 

"Dubai Land Department provides a conflict resolution service to customers, aiming to help investors and developers reach an agreement that satisfies all parties of the contractual relationship and guarantees their rights," stated Al Zarooni. 

 

DLD has harnessed all possibilities to resolve property disputes through reliable resolutions, thereby minimizing the need for judicial proceedings, he added.-TradeArabia News Service