abu Dhabi has introduced a groundbreaking initiative called the “Virtual Sell and Purchase” system, revolutionizing the real estate sector. This innovative service, launched by the Abu Dhabi Global Market (ADGM)
Abu Dhabi has taken a significant leap in digital innovation with the launch of the “Virtual Sell and Purchase” system, a first-of-its-kind service in the real estate sector. Spearheaded by the ADGM, this initiative aims to redefine the property transaction journey by enabling buyers, sellers, and associated banks to complete multiple steps virtually.
The Virtual Sell and Purchase system consolidates three key real estate procedures Discharge of Mortgage, Register a Transfer, and Register a Mortgage into a single digital service. By bringing all relevant parties onto a secure online platform, the system ensures a seamless and efficient transaction process.
This groundbreaking feature eliminates the need for physical meetings or document handovers, significantly reducing processing time while maintaining the highest standards of security and compliance.
The service is powered by ADGM’s state-of-the-art digital property platform, AccessRP, developed in collaboration with its strategic partner ADRES.
AccessRP offers a comprehensive suite of real estate transaction services, including selling and purchasing transactions, off-plan development, and mortgage services.
This end-to-end solution caters to developers, owners, and investors, providing a streamlined experience for all stakeholders.
Hamad Sayah Al Mazrouei, CEO of the Registration Authority of ADGM, emphasized the transformative impact of this initiative. “The launch of the Virtual Sell and Purchase service marks a significant milestone in our ongoing efforts to enhance ease of doing business and reinforce customer experience in the real estate sector.
We are not only making services simpler and faster, but we are also redefining what a real estate journey should look like in a modern, digital economy,” he stated.
This initiative aligns with ADGM’s commitment to setting new standards for digital transformation and driving growth in the real estate and financial services sectors. By leveraging cutting-edge technology, ADGM continues to position itself as a leading international financial center and innovation hub.
The Virtual Sell and Purchase system is expected to have a profound impact on the real estate market in Abu Dhabi, attracting global investors and fostering economic growth.
As the UAE capital embraces digital transformation, this initiative serves as a testament to its forward-thinking approach and dedication to enhancing the ease of doing business.
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