Are you looking to buy a property in Dubai for the purpose of living or investment? Dubai is one of the most luxurious cities that offers a wide range of high-end properties you can choose from based on your budget. In order to facilitate the process of owning a property in Dubai, the Dubai Land Department (DLD) has just launched a new feature called “Instant Sale Feature” on March 2023 that streamlines the process of real estate transactions in Dubai. Let’s dig deeper into this feature that will enhance the real estate sector in Dubai.
“Instant Sale Feature” is a smart evaluation technology that depends on artificial intelligence in evaluating real estate units. It is used in real estate transactions and eliminates the need for audits. Its main aim is to simplify procedures, reduce the implementation time of the evaluation service to just 15 seconds, improve customer experience, and allow buyers to purchase a property in minutes.
It is worth noting that this feature aligns with DLD’s efforts to enhance the use of innovative technologies in real estate and empower the real estate sector. It also aligns with Dubai Economic Agenda D33, which aims at launching innovative projects to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE, to position Dubai as the best city to live and work in worldwide.
The “Instant Sale Feature” includes sales operations for real estate units that are located in freehold areas, such as Downtown Dubai, Dubai Marina, Palm Jumeirah, and Business Bay.
This feature simplifies the real estate transaction process by making sure that all parties are present at the Real Estate Registration Trustee Office, an authorized agency that acts as a satellite office of the DLD, to sign contracts.
The transaction prices are confirmed through this smart evaluation system in just 15 seconds, followed by the completion of payment of fees and the issuance of the title deed within minutes.
His Excellency Sultan Butti Bin Mejren, Director General of DLD, said that this new feature will allow for exceptional growth in the real estate sector and will achieve a record-breaking number of real estate transactions in the upcoming period.
Majid Al Marri, CEO of the Real Estate Registration sector, also said that the “Instant Sale Feature” will contribute to facilitating the implementation of all real estate transactions in Dubai’s real estate sector.
After knowing everything about the “Instant Sale Feature”, it is clear that this feature will enhance the real estate sector in Dubai in the upcoming period. If you want to get more information about this feature, click here or if you want any real estate consultations, contact RE/MAX UAE by calling +971 4 589 7376 or contact us here., as we have licensed and qualified real estate agents in Dubai.