Dubai, United Arab Emirates, 22nd May 2018: Dubai Land Department (DLD) has been honoured at the ‘Ideas Arabia Awards 2018’, which is a subsidiary of the Dubai Quality Group (DQG) and represents a key enabler to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance a culture of creativity and innovation though the launch of corporate ideas.
DLD received the award after winning first place in the technology category in recognition of its pioneering ‘Blockchain in Real Estate’ initiative, which is the first of its kind in the world.
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: “We are delighted to receive this award, which acknowledges our continuous efforts to support the excellence of our real estate sector and serve all parties in it by providing the best technologies of the era. Implementing our ‘Blockchain in Real Estate’ initiative is part of our plans to create a road map that will help us reach new heights of innovation.”
The ‘Ideas Arabia Awards’ focuses on identifying the most important ideas applied within institutions and honouring the institutions and employees that brought them to life. DLD participated in this year's edition after submitting a comprehensive file explaining the ‘Blockchain in Real Estate’ initiative and the many advantages it will offer all parties in the real estate sector.
Bin Mejren added: "When the initiative was launched, our aim was to raise the competitive edge of the department by establishing it as the world's first government to adopt the smartest and safest technology in the real estate industry. The initiative is also helping us to achieve the Dubai Plan 2021 and the Dubai Blockchain Strategy by driving the move from traditional to smart services.”
‘Blockchain in Real Estate’ is one of DLD’s strategic initiatives to achieve a comprehensive development of its 26 key services, enhance global leadership, and raise the efficiency of government work. The initiative ensures the continued progress of real estate services in Dubai. Together, these benefits will contribute to improving Dubai's ranking in the global competitiveness index.
The new technology helps Dubai to raise the level of happiness of its customers, especially as it contributes to reducing the time required to complete their transactions, improves the quality and accuracy of work, and reduces the incidence of errors. In addition, it minimises the costs associated with the provision of services through the reduction of paper transactions, shipping charges, manpower, and other cost items.