Rent in Dubai can now be paid online rather than post-dated cheques

As part of a new partnership between Dubai Land Department and Emirates NBD, rental payments will soon be digitised using the Central Bank of the UAE’s Direct Debit System. This means tenants will now be able to pay their rent via online banking, rather than post-dated cheques.

Aligned with the Dubai Government’s vision for paperless payment ecosystems as well as with the Dubai 10X initiative, this collaboration will benefit landlords and property management companies by eliminating the administrative activities required to manage post-dated cheques manually.

It will also offer a seamless digital alternative to tenants for making rental payments using their bank account as well instead of issuing cheques as per current practice. This will further allow them to avail of flexible payment plans from their landlords or property management companies.

Individual investors from overseas looking to purchase property in Dubai can also seamlessly open non-resident savings accounts with Emirates NBD, which will help in facilitating their purchase and managing their property and rent collection conveniently. The overseas investors will be supported by a dedicated relationship management team to help with a smooth account opening journey.

Dubai @Land_Department announces strategic collaboration with @EmiratesNBD_AE to boost UAE real estatehttps://t.co/nouMLOq82r pic.twitter.com/hIXMbcCzhh

— Dubai Media Office (@DXBMediaOffice) July 4, 2022

Sultan Butti bin Mejren, director general of DLD said: “The real estate industry in the UAE is one of the best and most competitive in the world, and as part of our mission to present a regulatory environment in service of tenants and property owners, we have partnered with Emirates NBD in line with our efforts to fully digitalise our services as per the Dubai Paperless Strategy. Such collaborations will help facilitate and streamline the processes involved in the property market by employing progressive machinations on the path towards replacing the legacy systems in place.”

Hesham Abdulla Al Qassim, vice chairman and MD of Emirates NBD, said, “Emirates NBD is delighted to partner with Dubai Land Department on these strategic initiatives that will help in providing landlords and tenants with an easier, automated rent collection and management system as well as facilitate property purchases by new non-resident investors. Emirates NBD remains committed to supporting initiatives that will support the UAE’s long-term and strategic goals and in further strengthening Dubai’s standing as the investment destination of choice for international property investors.”