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Open Finance infrastructure UAE pioneer Spare has announced a strategic partnership with Rewa, a prominent local proptech platform. The collaboration is set to revolutionise digital rental payments in Dubai, offering a modern, secure alternative to traditional post-dated cheques.
By integrating Spare’s advanced Pay-by-bank payment solution, Rewa allows tenants to direct-debit their rental instalments straight from their bank accounts. The initiative eliminates manual banking transfers and physical paper tracking, establishing an end-to-end digital lifecycle that offers unprecedented tracking capabilities for both parties.
Editor’s Take: By bridging Open Finance infrastructure directly with property management workflows, Spare and Rewa are turning a legacy administrative burden into an integrated, frictionless financial utility. As regional regulatory adoption accelerates, this model will likely set the baseline standard for institutional property management across the wider GCC region.
Dubai’s Digital Rental Payments Real Estate Vision
The alignment between financial infrastructure and real estate directly advances the Dubai paperless real estate framework championed by local authorities. Backed by the Central Bank of the UAE’s (CBUAE) Open Finance Framework, Spare provides highly regulated, scalable API connectivity that enables immediate account-to-account verification and payment routing.
Dubai Rental Market Data Snapshot (2025)
| Metric | Recorded Total | Market Impact |
| Registered Tenancy Contracts | 1.38 Million agreements | 6% year-on-year volume increase |
| Combined Market Value | AED 126.4 Billion | 17% year-on-year value increase |
| New Leases Registered | Over 513,000 contracts | Higher influx of global residents |
This transition comes at a vital time for the city’s expanding property landscape. According to official Dubai Land Department (DLD) statistics, the emirate registered a massive volume of rental agreements over the previous year, pointing to a severe market need for digitised administration:
Key Operational Benefits of the Pay-by-Bank Solution
The structural update from physical paper processing to integrated open banking protocols provides immediate operational benefits across the real estate value chain:
For Tenants
Offers seamless, instant digital settlement options that altogether avoid the administrative hassle, processing delays, and bounce risks associated with physical banking cheques.
For Landlords
Delivers absolute payment certainty, eliminates manual account reconciliation, and provides a real-time portfolio dashboard showing processing and success states.
For Property Managers
Streamlines the collection architecture, enhances localised tenant retention, and provides full transparency throughout the payment lifecycle.
What This Partnership Means for the GCC
This strategic tie-up marks a monumental transition point where structural fintech meets property asset management. Historically, the GCC property market, particularly residential leasing, has remained heavily reliant on physical, post-dated corporate and personal cheques as a primary method for securing rental commitments.
By utilising the CBUAE Open Finance Framework, this partnership effectively proves that account-aggregated financial data is ready to handle high-value, recurring consumer transactions safely. For the wider regional ecosystem, it signals a shift where open banking moves away from simple account aggregation and enters the realm of real-time utility, ultimately lowering overhead costs and increasing the operational velocity of regional property portfolios.
About Spare
Spare is a leading Open Finance infrastructure provider that enables enterprises to securely access financial data and automated payment gateways through a single, unified API matrix. Spanning operational jurisdictions across Saudi Arabia, Bahrain, the UAE, and Kuwait, Spare serves as the fundamental financial connectivity layer powering next-generation consumer digital products in the MENA region.
About Rewa
Rewa is a specialised digital rental payment and tenant loyalty ecosystem designed to digitise property transactions. The proptech platform provides property managers and landlords with clear, real-time collection dashboards while incentivising prompt tenant behaviour through targeted financial rewards, building the foundational consumer layer for paperless real estate across the GCC.
Bottom Line
As Open Finance protocols gain widespread regulatory traction across the Middle East, this integration highlights how collaborative financial infrastructure can remove long-standing consumer friction points and reliably scale digital rental payments in Dubai.