Which authority is recognized for registering real estate transactions outside the DFSA?

Which authority is recognized for registering real estate transactions outside the DFSA?

• A. The Dubai Land Department (DLD)
• B. The Real Estate Regulatory Agency (RERA)
• C. The Ministry of Housing
• D. The Dubai Financial Market

Answer: (A)

The Dubai Land Department (DLD) is the recognized authority for registering real estate transactions outside the Dubai Financial Services Authority (DFSA). The DLD plays a crucial role in the real estate sector in Dubai by overseeing the registration of property transactions, ensuring compliance with local laws, and maintaining the real estate registry. Transactions that the DLD manages include the buying, selling, leasing, and mortgaging of properties. This authority ensures that all real estate dealings are documented correctly and transparently, providing protection and clarity to all parties involved in the transaction. Other entities mentioned in the options have different roles. For instance, the Real Estate Regulatory Agency (RERA) is primarily focused on regulating the real estate market, enforcing laws, and protecting the rights of investors, but it does not handle the registration of transactions. The Ministry of Housing deals with broader aspects of housing and accommodation at a national level, and the Dubai Financial Market primarily concerns itself with securities and financial assets, not directly with real estate transactions. Therefore, the DLD's specific mandate for real estate registration position it as the correct answer.

The Dubai Land Department (DLD) is the recognized authority for registering real estate transactions outside the Dubai Financial Services Authority (DFSA). The DLD plays a crucial role in the real estate sector in Dubai by overseeing the registration of property transactions, ensuring compliance with local laws, and maintaining the real estate registry.

Transactions that the DLD manages include the buying, selling, leasing, and mortgaging of properties. This authority ensures that all real estate dealings are documented correctly and transparently, providing protection and clarity to all parties involved in the transaction.

Other entities mentioned in the options have different roles. For instance, the Real Estate Regulatory Agency (RERA) is primarily focused on regulating the real estate market, enforcing laws, and protecting the rights of investors, but it does not handle the registration of transactions. The Ministry of Housing deals with broader aspects of housing and accommodation at a national level, and the Dubai Financial Market primarily concerns itself with securities and financial assets, not directly with real estate transactions. Therefore, the DLD's specific mandate for real estate registration position it as the correct answer.