Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced real estate solutions: Bayut, DXBinteract.com, and Property Finder.
Local media reports said 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.
Through the MoUs, the three companies will provide qualitative, private and interactive data on real estate prices by region.
Data will also be provided 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.
Sultan Butti bin Mejren, Director General of DLD, commented, “These 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.”
Haider Ali Khan, CEO of Bayut & dubizzle, said that the firm hoped 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.
DLD can also view profiles of these real estate investors whether local or international to gauge interest in Dubai’s real estate sector, he added.
Michael Lahyani, Property Finder’s Founder and Chief Executive Officer, stated, “We believe this partnership will further advance the property market in Dubai and increase transparency.”