The Feature Supports Dubai Economic Agenda D33 Aims
Dubai Land Department (DLD) has introduced a new feature called ‘Instant Sale’ that utilizes smart evaluation technology to streamline real estate transactions without requiring audits. This feature applies to the sales of real estate units, including apartments and villas, located in freehold areas and facilitated through Real Estate Registration Trustees. The goal is to simplify procedures and enhance the customer experience by having all parties present at the real estate registration trustee office to sign contracts.
The prices of transactions are confirmed through the smart valuation process of real estate units. Which takes only 15 seconds to complete. Payment of fees and issuance of the new title deed can be completed in just a few minutes following this. Sultan Butti Bin Mejren, Director General of DLD, believes that this new project will encourage the real estate sector. To maintain its exceptional growth and achieve an outstanding record in sales transactions in the coming stages.
Majid Al Marri, CEO of the Real Estate Registration sector, adds that DLD aims to provide the best and most harmonious services with the latest relevant global practices. The launch of the instant sale feature will contribute to a smooth implementation. Of all real estate transaction procedures in the real estate registration sector. Dubai’s real estate registration is one of the top 10 in the World Bank’s Ease of Doing Business Index. In addition, the emirate is among the leading cities globally in adopting the feature of registering transactions remotely.
This new smart evaluation process based on artificial intelligence will simplify the evaluation of real estate units. Reduce implementation time to just 15 seconds, and provide customers with a smoother experience. While facilitating growth in Dubai’s real estate sector.