Dubai Land Department (DLD) signed memoranda of understanding (MoU) with three companies specialized in providing smart and advanced real estate solutions: Bayut, DXBinteract.com, and Property Finder.
The MoUs aim to provide Dubai’s real estate market with the best solutions that rely on data and interactive reports, which contributes to enhancing the digital transformation trends witnessed by Dubai’s real estate sector as well as supports DLD’s vision of positioning Dubai as the world's premier real estate destination and a byword for innovation, trust, and happiness.
The interactive data and reports will provide a clearer and more comprehensive picture for investors seeking analytical insight on real estate market information to make the right decision, whether in the process of buying, selling or investing, making the emirate one of the most transparent real estate markets in the world. They also provide optimal opportunities to protect consumer information by developing important solutions to the challenges of the current era.
Through the MoUs, the three companies will provide qualitative, private and interactive data on real estate prices by region, and according to real estate construction, including the regional buying and selling prices, and the changing data that takes place in the real estate market during price changes, among others, depending on the stage it is going through.
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented:
“DLD is firmly committed to Dubai's real estate market transparently and providing the most effective smart and advanced real estate solutions, which contributes to raising the level of trust among investors and customers. Theses MoUs are part of our strategic goal and journey aimed at consolidating the emirate's position on the global real estate market. They also contribute to building the best economy in the world, in line with the Year of the 50th charter recently announced by the wise leadership for the next 50 years.”
Majida Ali Rashid, CEO of the Real Estate Promotion Investment and Management Sector at DLD, said:
“DLD seeks to permanently and continuously develop the services it provides in the interest of local and foreign investors. Through these partnership agreements, we will provide customers with a secure real estate environment and accurate and reliable data, which will contribute to enabling them to keep track of changes in the real estate market according to the map and follow up on price changes immediately, which would support our futuristic directions and strategic vision by providing real estate services with complete professionalism and transparency in information, systems, data and procedures.”
Haider Ali Khan, CEO of Bayut & dubizzle, commented:
“As the region’s leading property and classifieds portals, we are honoured to work closely with DLD to support its mission and the objectives of the Dubai 2040 Urban Master Plan. We believe that such collaborative partnerships play a vital role in achieving national objectives and creating a better environment for all stakeholders. Creating a seamless, reliable and data-backed journey for our users has always been our biggest priority, so we hope this partnership will provide property seekers across the UAE a more informed browsing experience and more elevated standards when searching online.”
Firas Al-Msaddi, CEO of Oratec, the developer of the website DXBinteract.com, said:
“We are pleased to sign this agreement with DLD to provide an interactive environment for the first time in the Dubai real estate market through DXBinteract.com. This site contributes to providing all the interactive private data for real estate prices by region and real estate construction. From knowing the buying and selling prices in the region to the changing investment landscape that takes place in the real estate market during price changes, the analysis takes place in real-time, just like stock markets and stock exchanges. DLD can also view profiles of these real estate investors whether local or international to gauge interest in Dubai’s real estate sector.”
Michael Lahyani, Property Finder’s Founder and Chief Executive Officer, states:
“Property Finder and DLD share the same vision in further consolidating the real estate market. With operations across the wider MENA region, we have access to the largest set of proprietary data on asking prices and a number of other metrics that attribute to the larger real estate picture. Thanks to this immense amount of data that we are able to access, we believe this partnership will further advance the property market in Dubai and increase transparency.”
News Source: Dubai Media Office