Dubai Land Department signs MoUs enabling smart real estate solutions

Dubai Land Department (DLD) has signed MoUs with three companies: Bayut, DXBinteract.com and Property Finder. The 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, depending on the stage it is going through.

Sultan Butti bin Mejren, director general of DLD, said: “Theses MoUs are part of our strategic goal and journey aimed at consolidating the emirate’s position on the global real estate market.”

The interactive data and reports will offer a 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.

The data and report will also provide optimal opportunities to protect consumer information by developing important solutions to the challenges of the current era.

Commenting on the agreement, Haider Ali Khan, CEO of Bayut & dubizzle, said: “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, spoke of the benefits for DLD and investors. He said: “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 CEO, added that due to the immense amount of data that his company has access to, the partnership “will further advance the property market in Dubai and increase transparency”.

Read: Dubai records real estate transactions worth Dhs300bn in 2021