It starts with residential and commercial units to determine prices accurately
«Dubai Lands»: a new indicator for evaluating the emirate's real estate regionally
The index aims to determine real estate prices in Dubai by region.
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The Executive Director of the Real Estate Registration Sector of the Dubai Land Department, Majed Saqr Al-Marri, revealed that the department is in the process of launching an indicator to evaluate the emirate's real estate regionally, expecting that the project will start with residential and commercial units to determine the price of the property with accuracy.
Al-Marri said in a press statement on the sidelines of the "Cityscape" exhibition yesterday, that the index will expand later to include all real estate, including land, noting that the index aims to facilitate and determine real estate prices in Dubai according to each region.
He added that the new indicator is one of the outputs of the smart appraisal project recently launched by the department, explaining that the average smart appraisal procedures for real estate in Dubai is 10,000 appraisal certificates annually.
Al-Marri confirmed that there is a growth in smart services related to smart evaluation as a whole, especially after shortening the evaluation period to 15 seconds, due to the introduction of artificial intelligence techniques into the evaluation process, after it was carried out in a simple way through a real estate appraiser and other steps.
He pointed out that the smart real estate appraisal index to be launched will provide accurate data to the customer based on smart technologies, indicating that the service will be provided through the "Dubai Rest" application.
Al-Marri explained that the steps of conducting the evaluation through “Dubai Rest”, start with choosing the type of user, then specifying the means of entry, then asking to enter the identification number, and receiving a message containing the verification number, and if all the owner’s data and owned properties appear, the user chooses the property to be evaluated. The property data will appear directly, then all the required data must be entered, the fees must be paid through the “My Money” wallet with the confirmation of the payment process, and the process ends with the delivery of the evaluation certificate directly to the customer.
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