Deal signed to manage, service OA accounts

DUBAI / WAM

Dubai, Dubai Land Department (DLD), represented by its regulatory arm Real Estate Regulatory Agency (Rera) signed an MoU with United Bank Limited (UBL UAE) to manage and service owners’ associations (OA) accounts.
Marwan bin Ghalita, CEO of Rera, and Syed Asghar Hussain, Head of Operations at UBL, signed MoU, through which Rera agrees to authorise UBL to provide certain services, such as opening bank accounts for OAs in accordance with provisions of the law and other additional services.
Sultan Butti bin Mejren, Director-General of DLD, said, “Freehold areas in Dubai are a key focus of real estate investment as they attract investors from around the world and provide advanced service structures and facilities.”