- Dubai’s Mashrooi by Dubai Land Department (DLD), an innovative service allowing property investors to stay updated on their under-construction properties through the ‘Dubai REST’ mobile app.
- Investors can access a wealth of information, including inspection reports, project images, projected completion dates, and even book site visits through the app.
- ‘Mashrooi’, which translates to ‘My Project’ in Arabic, facilitates real-time information exchange between government entities, developers, and investors, ensuring seamless communication.
- To track project status, users can easily navigate the ‘Dubai REST’ app, search for ‘Project Status (Mashrooi)’, enter the project name, and access details such as completion percentage, registration date, and inspection reports.
- Investors can connect directly with developers, schedule site visits, and even explore escrow account details, fostering a transparent and efficient investment process.
- The escrow account feature ensures secure transactions, with funds held by a neutral third party until contractual obligations are met, enhancing investor confidence.
Dubai’s real estate landscape is stepping into a new era of transparency and investor empowerment with the launch of the ‘Mashrooi’ service. This innovative feature, available on the ‘Dubai REST’ mobile application, is set to revolutionize how property investors monitor the progress of their under-construction investments.
Streamlined Monitoring Process
The ‘Mashrooi’ service, translating to ‘My Project’ in Arabic, is the brainchild of Dubai Land Department (DLD). It establishes a seamless platform for real-time information exchange among government bodies, real estate developers, investors, and service providers. The service enables investors to effortlessly access comprehensive insights into their projects, right from their smartphones.
Reading Suggestion: Choosing Between Hotel Apartments vs. Residential Flats in Dubai: Pros and Cons
A Wealth of Information at Your Fingertips
Through the ‘Dubai REST’ app, investors can dive into a wealth of project-related information:
- Completion Percentage: Gain visibility into the progress with real-time completion percentages.
- Timelines: Access project registration, start, and projected completion dates.
- Inspection Reports: Stay informed with the latest inspection reports, including downloadable versions.
- Site Insights: Visualize the project’s development through photographs from on-site inspections.
Direct Developer Interaction
‘Mashrooi’ goes beyond data display. Investors can directly engage with developers through the app:
- Contact Details: Obtain developer contact information, including email and phone number.
- Site Visits: Schedule visits to the construction site for a firsthand experience.
- Escrow Account Details: Explore the project’s escrow account information for added financial transparency.
Enhancing Trust through Escrow
The escrow account mechanism adds a layer of security and trust to the investment process. Funds are held by a neutral third party until both buyer and seller fulfill their contractual obligations, ensuring a fair and secure transaction.
Seizing a Future of Empowered Investing
The introduction of ‘Mashrooi’ exemplifies Dubai’s commitment to fostering a transparent, informed, and investor-friendly real estate environment. As the emirate continues to evolve as a global hub, this innovative service paves the way for a future where property investors can actively engage in their investments, armed with real-time insights and empowered decision-making.