ADGM unveils ‘Virtual Sell and Purchase’ real estate service

ABU DHABI/WAM

Abu Dhabi Global Market (ADGM) has announced the launch of the “Virtual Sell and Purchase”, the first-of-its-kind real estate service, which allows multiple steps within property transactions to be completed virtually by buyers, sellers, and associated banks.
ADGM’s new service streamlines and consolidates three key real estate procedures – Discharge of Mortgage, Register a Transfer, and Register a Mortgage – into a single digital service.
By bringing together all relevant parties to a secure online platform to perform a single transaction, the virtual sell and purchase service aims to deliver a significantly enhanced and effortless customer experience.
The service is powered by a groundbreaking virtual presence feature, which enables all parties to complete their part of the transaction remotely. This feature is a major leap in digital innovation for real-estate services as it eliminates the need for physical meetings or document handovers, reducing processing time while maintaining the highest security and compliance standards.
The Virtual Sell and Purchase service is being launched via ADGM’s state-of-the-art digital property platform AccessRP, which was started in collaboration with ADGM’s strategic partner ADRES.
AccessRP offers a comprehensive and enhanced suite of real estate transaction services, from selling and purchasing transactions to off-plan development and mortgage services, providing end-to-end solutions for developers, owners, and investors.
Hamad Sayah Al Mazrouei, CEO of the Registration Authority of ADGM, commented, “The launch of the Virtual Sell and Purchase service marks a significant milestone in our ongoing efforts to enhance ease of doing business and reinforces customer experience in the real estate sector. We are not only making services simpler and faster, but we are also redefining what a real estate journey should look like in a modern, digital economy.”