Dubai Land inks MoU with United Bank Limited

Dubai's Real Estate Regulatory Agency will authorise UBL to offer certain services

  
Image used for illustrative purpose. Dubai Marina City Skyline in the United Arab Emirates.

Image used for illustrative purpose. Dubai Marina City Skyline in the United Arab Emirates.

Getty Images

UAE –  Dubai Land Department’s (DLD) Real Estate Regulatory Agency (RERA), the regulatory entity for the owners’ associations (OA), has signed a memorandum of understanding (MoU) with United Bank Limited (UBL) – UAE to manage and service OA accounts.

Under the agreement, RERA will authorise UBL to offer certain services, including opening bank accounts, in accordance with the provisions of the law, according to a statement released on Tuesday.

“At RERA, we spare no efforts to facilitate the work of OAs, and help them provide the best possible services to all residents of freehold areas,” CEO of RERA Marwan bin Ghalita commented.

This agreement is aimed at providing OAs with more banking options and ensuring fair treatment and transparency for all parties, bin Ghalita noted.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Real Estate