"No objection certificate" is NOC, necessary for the sale of any real estate, it is now possible to get it by "one click"
Until recently, the owner of a real estate in Dubai, before concluding a contract for the sale of property, was forced to submit a NOC in person to the office of the developer of the object.
This practice was quite inconvenient, but against the background of restrictions on international communication due to the COVID-19 pandemic, it led to even more problems for investors.
The Dubai Land Department (DLD) has been developing various Internet analogues of its services in recent years. One of these analogues was eNOC.
eNOC is an electronic version of the classic NOC, which can be issued with a couple of clicks to anyone who installs the Dubai REST mobile application.
DLD is developing according to the government's "Paperless Strategy" program, following which the services of Dubai's economic departments will switch to an electronic form by the end of 2021. At least, the main part of them.
At the moment, investors can already find several online solutions for their activities.
For example, the Dubai Real Estate Regulatory Agency – RERA presented to investors an online calculator for changes in the rental rate and taxes in real time.
The online platform "Invest in Dubai" (IID) was also launched for remote registration of licenses for working in the emirate, opening accounts in local banks, registering companies, receiving advice from specialists, etc.
Switching the Dubai economy to an online environment has already shown clear results. In Q1 2021, an 11-year record for the number of transactions was broken, 6,000 residential properties were sold for $3.67 billion and other real estate worth $1.36 billion.
Interested investors should follow new government projects to develop convenient and intuitive electronic tools.