Game-Changer Initiative to Further Improve Transparency in Dubai Real Estate

ANACITY, ADDA, Urbanise, & ISKAAN partner with RERA, Dubai Land Department to bring transparency to JOP Data

When the screen reads - RERA Special Announcement. You know that it can grab the attention of the crowd. Such was the curiosity at the recently concluded IRECMS Dubai when the stage was set for a special announcement by the Real Estate Regulatory Authority (RERA), the regulatory arm of the Dubai Land Department.

Senior Specialist Auditor in the Owner’s Association Regulatory Section Ahmed Khalil Mahmoud Al-Hamdani led the way onto the stage. Following him were three leading PropTech players in the Community Management Industry- Aayush Puri, Head of ANACITY; San Banerjee, Co-Founder-CEO, ADDA; and Farrukh Khan, Project Manager, ISKAAN.

The team was quite literally brought together overnight and formed a partnership with the support and guidance of RERA. Otherwise known as competitors in the market, the professionals world together as one to develop a method to achieve transparency in the JOP Data.

A few days after the announcement, Conrad Op’t Hof, Regional Director - EMEA, Urbanise joined in on this partnership.

The four companies along with the Government support will bring all available data across the platforms on a uniform view for current and prospective property owners. This means that all the data that would normally be submitted to them by the managers at the end of the year, must now be sent via a direct integration link from the JOP management system. This includes but is not limited to financial, customer satisfaction, insurance, and asset data. This technology implementation will be done within Mollak and will surely drive the change to develop the industry further.

REM Times spoke to the 4 key players on what this move will mean to the industry as a whole.

San Banerjee, Co-Founder-CEO, ADDA: Dubai Land Department's Vision is to position Dubai as the World's first Real Estate Destination for innovation, trust, and happiness. This innovative initiative to bring a Uniform View of all JOP data contributes to this Vision by building greater Real Estate Investor Trust which leads ultimately to happiness in the property ownership journey. There is much data trapped in Community Management platforms that can be insightful towards Property Transaction decisions. Unlocking this data and making it available to the right stakeholders at the right time, presents immense value for the Real Estate Industry.

Conrad Op’t Hof, Regional Director - EMEA, Urbanise

RERA has already made significant improvements to the Jointly Owned Property market, and we are thrilled to work with them to drive transparency in the market. The data exchange between Urbanise and Mollak will make it more convenient for current and prospective owners to access relevant information pertaining to current and future investments. Urbanise has been in the UAE for over a decade and is ideally placed to provide RERA with the data they require through the already-established link to Mollak.

Farrukh Khan, Project Manager, ISKAAN

The significant announcement came from Mr. Ahmad Al-Hamdani, who is on a mission to get the best for OA Mangers and Communities. All his ideas and efforts are a massive contribution to Dubai’s information transparency initiative.

We at ISKAAN are glad to be part of RERA’s uniform information project to facilitate owners/Investors.

Aayush Puri, Head – ANACITY

ANACITY is proud to be partnered with Dubai RERA and Land Department. Combined with ANACITY’s Mollak integration, this will further facilitate JOP data transparency for property owners, becoming a major enabler for technological advancement in Dubai. We are especially thankful to Mr. Ahmed Al-Hamdani for his wise counsel and timely advice in meeting the government’s requirements for a digital partner. This partnership will improve data access while streamlining current processes to ensure compliance at every step and increase operational efficiency. The development marks an important milestone in the government’s push towards digitalization across the real estate sector and makes a leap toward digital transformation of the community management industry.