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Announcement
ADGM partners with ADRES to develop a state-of-the-art digital Real Property platform to offer a one-stop-shop customer experience
ADGM 23/11/2023Abu Dhabi Global Market (ADGM), the leading international financial hub in Abu Dhabi, today announced a strategic partnership with Advanced Real Estate Services (ADRES), a company providing innovative proptech solutions. This partnership signifies the commencement of a pioneering initiative aimed at developing an advanced digital Real Property platform under ADGM jurisdiction. The objective of this initiative is to make a significant leap in the real estate sector by enhancing transparency and efficiency to facilitate and streamline the client journey under a unified real property platform.
The collaboration between ADGM's advanced regulatory framework and ADRES' expertise in real estate is poised to establish a fresh regional standard for digital Real Property services, in light of the geographical expansion of Abu Dhabi Global Market by Cabinet Resolution No. 41 of 2023, to include both Al Maryah and Al Reem Islands with a total area of 14.3 square kilometers. The platform aims to simplify and deliver a seamless, integrated experience for residents, investors, developers, and property owners, simplifying their interaction through a comprehensive digital interface.
The real estate platform will offer a wide range of integrated packages for real estate services, including:
- Developer Services Module for registering real estate projects, off-plan sales, escrow accounts, and service fees.
- Real Estate transaction services Module, including buying, selling, and mortgages.
- Profession and Real Estate Professionals Module
- Property Owners Services Module, including issuing official documents and certificates.
- Property Management Module.
Hamad Al Mazrouei, CEO of the ADGM Registration Authority, stated: "ADGM is committed to contributing to bolstering a digitally empowered economy. This partnership with ADRES represents a significant stride in our efforts to streamline business operations and provide innovative real property solutions within ADGM jurisdiction."
Moath Maqbol, General Manager of ADRES commented: "We take pride in partnering with ADGM to establish a groundbreaking standard in real property services. This portal goes beyond a mere tool; – it serves as a strategic facilitator for growth that enhances customer satisfaction within the ADGM community and helps us achieve our shared vision of elevating the growth of the Abu Dhabi Global Market Real Estate Sector."
By integrating with ADGM's Registration Authority, the portal will guarantee adherence to regulatory standards while delivering a user-friendly experience. This initiative is poised to elevate Abu Dhabi's status as a premier investment destination, attracting a diverse array of investors, companies, and entrepreneurs.