| 29 Sep 2008 |
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Simsari becomes Rera technology partner
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Simsari.com, the Middle East's online marketplace that specialises in property and real estate transactions, has announced a strategic joint venture with Real Estate Regulatory Agency (Rera)Real Estate Regulatory Agency (Rera)
, the authority that formulates, regulates, manages and licences real estate activities in Dubai.The partnership will see Simsari act as a service provider and technology partner, in order to create a series of online marketplace applications through which users can interact and transact with one another, through ReraRera
. As part of the agreement, Simsari will supply ReraRera with IT application infrastructure, online auction mechanisms and a full service transactions and payment gateway.Abdulla Salman, deputy CEO of Simsari, said: "This partnership highlights our commitment to bringing transparency to the realty market, and is a significant step towards connecting buyers and sellers to each other, through ReraRera
. The private portals powered by Simsari will support ReraRera in its quest to be an open and effective regulatory body for the Dubai real estate industry."The joint venture will initiate in the development of ReraRera
's "Bid Now" online auction platform for private land and real estate auctions online along with the "RED" system web enablement, a search service that provides access to land appraisal reports, previously only available offline and onsite at ReraRera. Both applications will offer secure property transactions via the Dubai Government e-payment gateway, which facilitates the secure completion of transactions online."As the Dubai real estate sector continues to see exceptional growth and interest on a global scale, our ongoing mission is to create a transparent and effective regulatory environment and condition through which entities dealing in properties and real estate can conduct business in a secure and regulated manner Through our partnership with Simsari.com, we look forward to strengthening our online offerings, which will help to provide members with the opportunity to execute sales transactions and simple access to standardized industry forms and documentation," said Marwan Bin Ghalita, CEO of ReraRera
."Bid Now" is a Simsari-powered private auction platform that allows real estate sellers to set a reserve price, enabling validated, registered users to take part in a bidding format to win a given property. This new business model features a secure and easy property upload facility that is linked to Dubai Government e-payment gateway, which enables entire transactions to be completed in a transparent and open online environment.
The "RED" system, available through the ReraRera
community portal, will provide registered members with access to land appraisal reports, previously only available onsite at the ReraRera office. The quick and easy online service allows visitors to purchase reports through the Dubai Government e-payment gateway. Registered users can log in with a username and password, and view samples of the reports via the sites homepage, before being prompted to pay.As part of the joint venture, Simsari will also provide ReraRera
with the technological infrastructure designed to facilitate the standardisation of all legal documents for online transactions, all available through the ReraRera community portal. By Staff Writer
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