UAE announces new mortgage procedures
In a move toward seamless government services in the UAE, the Ministry of Energy and Infrastructure (MoEI) held its inaugural Customer Council meeting to overhaul the mortgage release procedure following loan repayment.
The initiative—part of the Ministry's Smart Government agenda—brings together federal and local authorities, the Emirates Development Bank, and end-users to pinpoint bottlenecks and co-design a streamlined process.
UAE mortgage procedures
Council participants identified key hurdles that traditionally burdened homebuyers:
Multiple required visits to various entities
Inconsistent document checklists across emirates
Lack of digital integration, prolonging case closures
Under the new model, piloting in Ajman before nationwide rollout, all direct debit cancellations will be automatically processed by Emirates Development Bank as soon as a loan is cleared.
Physical trips to collect loan guarantees are eliminated in participating emirates, and digital connectivity between MoEI, Emirates Development Bank, and Ajman's Department of Land and Real Estate Regulation ensures instant notifications once transactions finalise.
These combined enhancements shrink the service timeline from several days to just one working day from repayment.
In concrete terms, customers will no longer need the previous six documents nor make the five visits once deemed unavoidable—achieving a 100 percent reduction in procedural steps.
Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, said: 'The Customer Council meeting aligns with the UAE Government's vision of building flexible and smart government services that place the customer at the heart of improvement and development.
'It reflects our commitment to involving customers in decision-making and enhancing transparency. The proposed solutions today are based on actual needs that have been identified and analysed within the framework of the Government Accelerators.
'We believe that achieving zero bureaucracy can only be realised through digital integration, streamlined procedures, and the elimination of unnecessary requirements—goals we have already begun to achieve through this initiative.
'The Ministry will continue working with its strategic partners to translate the outcomes of this council into concrete, actionable improvements that enhance customer satisfaction and elevate the UAE's global rankings in government service efficiency.'
Echoing this, Mohammed Bin Taliah, Chief of Government Services of the UAE Government, noted that the mortgage release service after loan repayment represents a significant leap in the level of integration between federal and local entities.
Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, stated that participation in the first customer council on mortgage release procedures comes as part of the strategic partnership with MoEI and in continuation of joint efforts to shape the future of the real estate sector and enhance the efficiency of government work through proactive service packages that keep pace with rapid development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UAE Moments
an hour ago
- UAE Moments
Top Reasons to Invest in Dubai Real Estate for Great Returns
Dubai has established itself as a global hub for real estate investment due to its dynamic economy, luxurious infrastructure, and investor-friendly practices. In this article, we explore the top reasons why investing in Dubai real estate is a smart financial decision. 1. Tax-Free Environment Dubai offers a unique advantage with its tax-free environment. Unlike many countries, there are no income taxes, capital gains taxes, or property taxes in Dubai. This allows investors to maximize their returns without tax deductions eating into their profits. 2. Booming Economy Dubai's economy is flourishing, with key industries like tourism, logistics, trade, and financial services driving growth. The World Bank has projected 4.1% GDP growth for the UAE by 2025, reinforcing investor confidence in Dubai's stable and growth-oriented real estate market. 3. Safe and Stable City Dubai is internationally recognized for its safety and political stability. The secure environment and efficient legal system make it highly appealing for investors seeking a reliable and risk-free market. 4. Growing Population Dubai's population is consistently increasing, creating strong demand for housing. With a current population growth rate of over 100,000 new residents annually, this upward trend supports steady growth in property sales prices and rental values. 5. Strong Rental Market The rental market in Dubai is highly competitive due to the city's growing population and influx of professionals. This ensures steady demand for rental properties, offering lucrative yields for investors. 6. Thriving Tourism Industry Dubai is a top destination for global tourism, attracting millions of visitors annually. The thriving tourism sector opens opportunities for holiday home investments and short-term rentals, while stimulating economic growth and infrastructure developments. 7. Strong Return on Investment Investing in Dubai real estate offers excellent prospects for capital appreciation and rental yields. Whether purchasing properties with cash or financing through mortgages, investors can expect high returns due to the city's strong market performance. 8. Competitive Property Prices Compared to other global cities like New York and London, real estate in Dubai remains highly affordable. Competitive prices paired with luxurious amenities make Dubai's property market an attractive option for investors worldwide. 9. World-Class Infrastructure Dubai boasts cutting-edge infrastructure, including advanced transportation systems, healthcare facilities, schools, and technology networks. Government initiatives for becoming a Smart City further enhance Dubai's appeal, ensuring continued property value growth. 10. Various Visa Options Investing in Dubai real estate can serve as a pathway to long-term residency. Investors can secure Golden Visas of up to 10 years, offering benefits like family sponsorship and no minimum stay requirements. 11. Strategic Location Dubai's central location connecting Europe, Asia, and Africa, alongside its world-class airport with direct routes across the globe, makes it a business and travel hub. This accessibility further boosts its appeal for real estate investors. 12. Regulated Market Dubai's real estate market is governed by regulatory bodies like the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA). These ensure transparency and fairness, safeguarding investors' interests in the market. 13. Flexible Payment Options Dubai offers flexible payment options for property buyers, including cash purchases, mortgages, and payment plans for off-plan properties. Investors can choose structured payment plans, post-handover plans, or tailored financing solutions to suit their needs. 14. Innovative Developments Dubai is at the forefront of architectural innovation, with new projects emphasizing sustainability, wellness, and smart technology. Investing in these forward-thinking developments ensures long-term value and higher returns for buyers. Best Areas to Invest in Dubai Real Estate If you're considering investing in Dubai, selecting the right area is crucial to maximize returns. Below are some of the top investment destinations in the city: Downtown Dubai: Home to iconic landmarks, luxury apartments, and vibrant lifestyles. Dubai Marina: A waterfront neighborhood boasting high-rise apartments and entertainment options. Palm Jumeirah: The world-famous man-made island with luxurious properties and sea views. Jumeirah Lake Towers (JLT): A bustling residential and commercial area known for modern living spaces. Jumeirah Village Circle (JVC): An affordable yet stylish community featuring apartments and villas. Business Bay: A premium business district blending upscale residential and commercial properties. Dubai Hills Estate: A family-friendly community offering luxury properties alongside amenities like a golf course and shopping mall. The Future of Dubai Real Estate Dubai's real estate sector is poised for growth and innovation. Here are some insights into what the future holds:
Khaleej Times
8 hours ago
- Khaleej Times
UAE spending surge anticipated heading into Dubai Summer Surprises 2025
As the UAE gears up for another season of Dubai Summer Surprises (DSS), new data reveals a sharp increase in digital spending during last year's campaign, with signals pointing to even greater momentum this summer. The number of daily digital transactions in the UAE jumped by 25% year-on-year during the DSS 2024 period, while consumers also spent more per transaction, with average ticket sizes growing by 16% year-on-year, according to data from A closer look at the data uncovers deeper consumer behaviour shifts. Spending on interior furnishings rose notably last year, suggesting that many residents used the summer period and DSS sales as an opportunity to upgrade their homes. Recreation-related categories also spiked, indicating an increase in families opting for local leisure experiences during the school break. The toys and sporting goods sector saw heightened activity as parents looked to keep children engaged through the hotter months, while education spending climbed as families paid school tuition and stocked up for the academic year ahead. Notably, the automotive category also saw a summer boost, driven by seasonal promotions on vehicles and related services. own processing volumes in the UAE rose by 44% during last year's DSS, reflecting a broader shift toward online-first lifestyles and growing consumer trust in digital payments across high-intent seasonal moments. These insights are consistent with latest State of Digital Commerce in MENA 2025 report, which found 62% of UAE consumers plan to increase their online shopping next year, and 44% now say that they shop for better options online even while browsing in-store. 'Dubai Summer Surprises continues to act as a key catalyst for digital commerce in the region,' said Remo Giovanni Abbondandolo, General Manager for MENA at 'From household upgrades to family recreation and back-to-school prep, the data shows UAE consumers turning to digital channels to meet both everyday needs and high-value purchases. With the growth we've seen year over year, we expect 2025 to break even more records.' As the region continues to lead in digital commerce adoption, the summer months are proving to be peak moments for merchants to connect with digitally savvy consumers driven by speed, convenience, and seamless online experiences.
Khaleej Times
8 hours ago
- Khaleej Times
From niche to mainstream: Why Islamic finance is critical to the UAE's future development
Islamic finance is no longer a regional curiosity; it is becoming part of the structural foundation of global financial systems. Once confined to a handful of markets and perceived as serving a niche clientele, Islamic banking was often seen as parallel to, rather than integrated with, the global financial mainstream. This shift reflects a growing recognition of its ethical foundations, structural resilience, and alignment with evolving global economic priorities. Within the UAE, both Dubai and Abu Dhabi are increasingly recognised as critical global financial hubs. This has been driven in recent years by successful economic diversification underpinned by a fast-growing financial services sector and infrastructure aligned with international best practice. Islamic finance has an integral role to play in enabling cross-border market accessibility and diversifying domestic funding sources to support the next phase of financial services development in the UAE. Standard Chartered's latest report, Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts, reveals that global Islamic finance assets are on track to surpass $7.5 trillion by 2028, up from $5.5 trillion in 2024. This represents an impressive 36 per cent asset growth over the next four years. Rising financial volatility, growing calls for sustainability, and demand for inclusive, ethical finance have brought Islamic banking into sharper global focus. The UAE is at the forefront of this shift, publishing a set of Guiding Principles for sustainability in Islamic financial institutions in 2023 that encourage industry participants to integrate sustainability ambitions into their practices and processes. Recent progress has shown that these values are resonating more than ever with governments, corporates, and investors seeking resilient and inclusive financial frameworks in the UAE and across the MENA region. Islamic banking now accounts for over 70 per cent of total Islamic finance assets and is set to grow from $4 trillion in 2024 to $5.2 trillion by 2028. Meanwhile, the Sukuk market, a vital liquidity tool for governments and institutions, is projected to reach nearly $1.5 trillion. The UAE was one of several countries to make short-term treasury sukuks available in recent years, as they are considered among the most effective tools for fund raising in Islamic money markets. The overall growth in Islamic finance assets highlights shifting preferences, deeper institutional integration, and rising global demand for sustainable finance. This shift also reflects a broader change in mindset. Islamic finance is no longer seen as 'alternative finance,' but as strategic finance, a model that can integrate into the portfolios of global asset managers and the frameworks of sovereign wealth funds. Since the pandemic, the emergence of Islamic digital banks in countries including the UAE has been testament to this. At Standard Chartered, we view this moment as a call to action. As the only international bank with a global Islamic banking franchise, Standard Chartered Saadiq, we are uniquely positioned to partner with financial institutions, corporates, and clients across more than 25 markets, from the UAE to the UK and Africa. From helping institutions meet liquidity requirements to supporting green Sukuk issuances, we are enabling the next chapter of growth in Islamic finance. Yet, with opportunity comes responsibility. The next phase of growth in Islamic banking will depend on how well the industry addresses existing challenges. Regulatory harmonisation across jurisdictions, improved liquidity management mechanisms, and a renewed focus on product innovation are all essential. The journey of Islamic banking reflects growing prominence in the UAE, the broader MENA region and across international markets. As the world becomes more focused on resilience, sustainability, and inclusive prosperity, Islamic finance offers a model that speaks to both values and performance. The work ahead lies in deepening collaboration, improving consistency across markets, and continuing to innovate in ways that serve real economic needs. At Standard Chartered, we are committed to enabling that journey and see this as an opportunity and a responsibility to support our clients, strengthen communities, and help shape a more balanced and purpose-driven financial future for the UAE as an increasingly critical global financial hub serving international markets. The writer is CEO, Group Islamic Banking, Standard Chartered
