How many tenancy deals did Ejari record in 2016?
A Dubai Land Department official has revealed how many contracts and leases were registered by tenancy and FM companies in the Ejari system this year
Officials from Dubai Land Department (DLD) recently revealed the number of tenancy contracts registered under the agency's Ejari system in 2016.
DLD also announced it would be implementing procedures to ease leasing contract registration in Dubai.
This includes inter-departmental synergies and collaboration, Mohammed Yahya, deputy executive director of the rental affairs sector at DLD said.
He added: "DLD has recorded approximately 409,088 active tenancy contracts in the Ejari system since 2016 started and another 388,268 active tenancy contracts in 2015, providing an average number of leases have reached up to 2,000 registrations per day.
"These are carried out by authorised tenancy companies and facility management companies in Dubai, through registration channels that have been developed by DLD.
"Such companies have been authorised to register all rented properties that they manage, with the service enabling the tenant to obtain the registered tenancy contract from the company immediately upon signing the contract.
"Up to 1,292 companies have been registered, rendering the unauthorised ones with a sum of fines."
Applications for lease registrations by landlords or their representatives have also increased through Ejari, with more than 809 requests received so far.
For properties that are not managed by real estate companies, tenants can register their contracts with DLD’s accredited real estate service trustees.
Contracts registered through real estate companies form a majority of 75% of total registrations, compared with 25% conducted through third parties, a report by Dubai Media Office stated.