Dubai, United Arab Emirates, 6th March 2023: In line with its mission to empower the real estate community through proactive real estate services, Dubai Land Department (DLD) launched the ‘Instant Sale feature,’ which depends on the use of smart evaluation in real estate transactions without the need for audits, pursuant to DLD’s innovative approach as an essential pillar in shaping the future, aligned with the targets of the Dubai Economic Agenda D33 aimed at launching transformational and innovative projects that contribute to establishing the strategic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE to position Dubai the best city in the world to live and work.
The Instant Sale Feature includes sales operations for real estate units, whether apartments or villas, located in free-hold areas through Real Estate Registration Trustees. The aim is to simplify procedures and improve the experience of DLD’s customers by ensuring the presence of all parties at the real estate registration trustee office to sign contracts. The prices of the transactions are confirmed through the smart valuation process of real estate units, and this is followed by the completion of payment of fees and the issuance of the new title deed within a few minutes.
His Excellency Sultan Butti Bin Mejren, Director General of Dubai Land Department said: “Dubai's real estate sector witnessed a distinguished performance and exceptional growth after Dubai’s annual real estate transactions cross half a trillion dirhams for the first time in 2022, thanks to the wise leadership's directives and great attention to the real estate sector as it is an essential pillar of sustainable development. From this standpoint, DLD is always keen to enhance the real estate sector’s infrastructure with innovative initiatives and projects that contribute to advancing the digital ecosystem. This new project will be a strong motivation for the real estate sector to maintain this exceptional growth and achieve an outstanding record in the number of sales transactions during the coming stages.
Majid Al Marri, CEO of Real Estate Registration sector said: “DLD seeks to provide the best and most harmonious services with the latest relevant global practices, and the launch of the instant sale feature would contribute to a smooth implementation of all real estate transactions procedures in the real estate registration sector, as well as its role in consolidating our services, where Dubai’s real estate registration is one of the top ten of the World Bank's Ease of Doing Business Index, while the emirate is one of the leading cities around the world in adopting the feature of registration of transactions remotely.
DLD continues to implement proactive projects and initiatives based on its vision of achieving The World Leader in Real Estate Investments, and enhancing the procedures for the real estate development process, committed to its institutional values, foremost of which is the people-centric and facilitating life.
Notably, the smart evaluation process depends on artificial intelligence in evaluating real estate units, which contributed to reducing the implementation of the evaluation service to 15 seconds. Thus, improving the quality, efficiency and readiness of smart government services to keep pace with the future's requirements and meet society's needs, and raise the percentage of customer happiness.