Digital Registration for Off-Plan Property Interest Required

Abu Dhabi's Real Estate Centre (ADREC) has launched a digital system for registering Expressions of Interest (EOIs) for off-plan property projects via its Madhmoun platform. This new system mandates that all developers register EOIs online before launching new off-plan projects, ensuring a standardized and secure process. The initial project utilizing this system is Manchester City Yas Residences by Ohana.

A key feature of the updated process is the placement of EOI funds into a government-managed escrow account overseen by ADREC. This provides enhanced security for buyers, as funds are held and monitored before being released. This measure significantly reduces risks associated with manual fund handling and introduces a digital refund process when necessary, streamlining the overall transaction.

ADREC's initiative aims to improve transparency, strengthen regulations, and modernize Abu Dhabi's real estate sector. The goal is to protect investors while maintaining an efficient process for developers. This move reinforces Abu Dhabi's standing as a secure and attractive destination for property investment.