Arab Today, arab today 57666 tenancy contracts filed in h1
Last Updated : GMT 08:12:50
Arab Today, arab today
Arab Today, arab today

57666 tenancy contracts filed in H1

Arab Today, arab today

Arab Today, arab today 57666 tenancy contracts filed in H1

Abu Dhabi - Arabstoday

The Municipality of Abu Dhabi City has registered over 57,000 tenancy contracts under the Tawtheeq System during the first six months of the year, accounting for a market share of 21 per cent of the total 28,000 leasable units registered. According to the municipality, the number of tenancy contracts registered in the Tenancy Contracts Registration System, known as Tawtheeq, amounted to 57,666 contracts by the end of August, thus accounting for a market share of 21 per cent of the total 28,000 leasable units registered in the system. The municipality launched the programme in November 2011 with the aim of regulating the real estate market in the Capital. The number of property management companies that use Tawtheeq electronic system has topped 200 in Abu Dhabi. The municipality has coordinated and signed agreements with 14 government entities to support the project and forge partnership with four government agencies — Abu Dhabi Distribution Company, the Department of Economic Development, the Department of Transport and the General Directorate of Residency and Foreigners Affairs. The civic authority has also coordinated with printing centres to ease the procedures for customers, and has trained more than 14 employees on attending to customers’ inquiries made through phone or in person. The Tawtheeq System was launched in response to the urban boom seen by the emirate, lack of an entity specialised in documenting tenancy and issuing contract-related statistics in the emirate and the need to address the large number of disputes arising between landlords and tenants triggered by the lack of official contracting documents led to the formation of Tawtheeq. The Tawtheeq System also aims at creating a coherent, effective and integrated information system shared by all government entities, streamlining and supervising the process of documenting contracts in the city and safeguarding the rights of landlords and tenants with the enforcement of the real estate registration law. From : Khalij

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