KM Properties sponsors RERA's 'Oqood' new property software launch at Tamani Hotel Marina

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The launch was headed by the Land Department's H.E. Sultan Butti bin Mijrin, Director General of the Land Department, Mr. Mohammed Sultan Thani- Assistant Director General of the land department and assisted by representatives from the Real Estate Regulatory agency, Emirates Real Estate Solutions and Amlaki where the new software Oqood was officially unveiled to all Dubai based developers and real estate owners.

At the event, The Real Estate Regulatory Agency in conjunction with the Land Department announced its implementation of a new rule and regulation to improve the overall performance of the real estate sector in Dubai.

In view of this new rule, The Agency has specially created a new software that is made mandatory across all property developers and companies in Dubai dealing in off plan property sales to use with immediate effect.

All Real Estate companies in Dubai promoting and selling off-plan property sales are to acquire the new software and strictly use it whenever transactions are made where it will have to go online through the regulatory body of (RERA).

Only those registered brokers and agents with The Real Estate Regulatory Agency will be able to make transactions online using the system. The software will also feature a unified template of property sales agreements between property developers / owners and the buyers duly approved and designed by the Agency .

H.E. Sultan Butti bin Mijrin at the event stated

'all property developers in Dubai will have to use the Oqood software if they are dealing with off-plan property sales. Training will be provided by Emirates Real Estate Solutions (ERES) who designed the software; where developers will be given three months period for training their sales employees on the system. This software is an important tool to help us regulate the Dubai Property market and provide security for both developer and customers in their property investment transactions.'

KM Properties, one Dubai's leading real estate developer and brokerage house has been selected amongst property developers in Dubai as event support sponsor for the Oqood launch.

A leading company with premiere developments all located in the new downtown Dubai commercial and residential district in Business Bay, KM Properties owns the following exceptional towers namely TAMANI Hotel at Park Lane Office Tower, B2B Tower, TAMANI Arts Offices Tower, TAMANI Arts Hotel and Royal Suites.

More details of the new Oqood software can be viewed by visiting the Dubai Land Department and RERA websites.