DLD Launches Smart Evaluation Technology for Real Estate Transactions
- Publish date: Monday، 06 March 2023
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On Monday, The Dubai Land Department (DLD) launched the Instant Sale feature in order to avoid the necessity for audits in real estate transactions by using smart evaluation technology.
The Instant Sale Feature is applicable to transactions involving the sale of freehold real estate units, such as flats and villas, carried out by Real Estate Registration Trustees. By guaranteeing that all parties are present at the real estate registration trustee office to sign contracts, it aims to simplify processes and enhance the experience of DLD's clients. The smart evaluation process verifies the prices, and within a short period of time, the fees are paid in full and the new title deed is issued.
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The Director-General of DLD, Sultan Butti Bin Mejren, highlighted that Dubai's real estate sector has had impressive results with remarkable growth, and in the year 2022, real estate transactions for the first time exceeded half a trillion Dirhams.
The aim of the Dubai Economic Plan D33 is to establish Dubai as the best city in the world to live and work in, and this new feature is aligned with DLD's efforts to increase the utilization of innovative solutions.
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