Dubai Land Department (DLD) is allowing Emirates NBD customers to pay DLD fees in installments without incurring charges for the privilege of doing so.
The agreement follows DLD’s discovery that around 38% of DLD’s fees were being paid by Emirates NBD customers, either through cheques or by credit cards.
“This advanced service enables customers to pay their fees using credit cards issued by the bank and to receive fee installments at a rate of 0%,” said Saad Abdulla Al Hammadi, Senior Director of Finance and Administrative Affairs at DLD.
“We also confirm that the bank does not impose any interest to its credit card holders, given that installment plans can be provided for a period longer than six months.”
Dubai Land Department (DLD) is the organisation responsible for regulating the real estate industry in Dubai. It includes the Real Estate Regulatory Agency (RERA), which sets price bands for rents in Dubai, and the Rental Dispute Centre (RDC), the judicial arm that mediates in disputes between landlords and tenants.
This latest move by DLD should be welcomed by investors, who have recently seen small drops in the overall value of property units in Dubai.