Media ININ Economy We Trust
The Dubai Land Department has announced the possibility of paying rents through the “direct payment system” of the UAE Central Bank, with the aim of facilitating the journey of customers within the various procedures related to the department and its services.
According to the system, tenants can now pay rent without checks through direct payment channels for rents in Dubai through their bank accounts through the Noqodi portal, which authorizes tenants to pay directly, after integrating the Ejari application with the Noqodi system completely, which provides the possibility of scheduling payment. Rental fees upon signing the new contract or in case of renewal of the contract.
The system is distinguished by the ease of the procedures that the customer must follow to prepare the electronic wallet in the Noqodi system, and thus reduce the debts incurred by the tenant or the owner alike, due to other payment methods. The system is also in line with the department’s efforts to provide a safe and sustainable real estate system.
Through the system, it is possible to arrange direct payments according to the terms of the contract, without the need for checks, and thus the owners and real estate managers do not have to deal with post-dated checks, and provide more flexible payment options for tenants, and facilitate the process of buying and managing real estate and easily collecting rents for individual investors from outside the country.
The direct payment system will ensure raising awareness, confidence and transparency in the real estate sector, and harnessing technology to develop real estate products, thus enhancing the effectiveness and efficiency of operations and corporate governance.
