Simsari becomes Rera technology partner |
|
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), 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 Rera. As part of the agreement, Simsari will supply Rera 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 Rera. The private portals powered by Simsari will support Rera 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 Rera'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 Rera. 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 Rera.
"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 Rera community portal, will provide registered members with access to land appraisal reports, previously only available onsite at the Rera 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 Rera with the technological infrastructure designed to facilitate the standardisation of all legal documents for online transactions, all available through the Rera community portal.
By Staff Writer
© Emirates Business 24/7 2008
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Abu Dhabi Investment Council | UAE | Investment Firms and Funds |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Abu Dhabi Investment Company | UAE | Investment Firms and Funds |
| Al Zarooni Group | UAE | Multi-line |
| Al Rajhi Investment Group | Saudi Arabia | Investment Firms and Funds |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Dubai Chamber of Commerce and Industry | UAE | Associations |
| Qatar Investment Authority | Qatar | Investment Firms and Funds |
| Qatari Diar Real Estate Investment Company | Qatar | Landlords and Developers |
| Abu Dhabi Investment Authority | UAE | Investment Firms and Funds |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP) | UAE | Oil and Gas |
| Dubai RTA - Dubai Metro - Purple Line | UAE | Infrastructure |
| Qatar Foundation - Sidra Hospital | Qatar | Real Estate |
| Emirates Aluminium (EMAL) - Smelter Complex | UAE | Industry |
| Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| Qatalum Aluminum Smelter | Qatar | Industry |
| ADCO - SAS Field Development | UAE | Oil and Gas |
| Nakheel - Dubai Waterfront | UAE | Real Estate |
| KNPC - Al Zour Refinery | Kuwait | Oil and Gas |
| Abu Dhabi Municipality - Salam Street and Mina Road Development | UAE | Infrastructure |