In 2023, His Highness Sheikh Mohammed bin Rashid Al Maktoum introduced the ambitious Dubai Economic Agenda D33. The strategic plan announced ambitions to double Dubai’s economy and put it among the world’s top 3 global cities over the next decade. The Dubai Land Department soon launched the DLD smart evaluation instant sale feature to actualize this vision.
In this blog, we explore the complete details of the brand-new instant sale DLD feature – what it is, how it works, its benefits, and much more. This comprehensive blog will cover everything you need to know about instantly evaluating and selling properties in Dubai.
What is an Instant Sale by DLD?
The instant sale feature is a new initiative designed to streamline the real estate market in Dubai. It is built on the DLD smart evaluation system and allows faster property sales without audit requirements. Instant sale by DLD allows quick sales of apartments and villas in freehold areas. These transactions are completed with all parties present, and all formalities are completed at the office of the Real Estate Registration Trustees. The feature was announced in January 2023. Its benefits include boosted sales, a broader market, and faster economic growth. This blog discusses more on the advantages ahead.Â
How Does Instant Sale by DLD Work?
The instant sale feature uses the DLD smart evaluation system as a property valuation tool. This technology confirms property prices within 15 seconds and issues the new title deed within minutes. This system can evaluate a property’s price, location, size, and other details, all with the help of algorithms. The system works in the following steps:
- Data Input: A user begins by inserting the details about a property whose valuation they seek.Â
- AI Processing: The DLD smart evaluation system then uses AI to analyse similar properties, historical trends, and other details to offer reliable information.Â
- Valuation Report: The system provides instant valuations based on these findings.
- Instant Sale: If the seller finds the valuation suitable, they can choose the ‘Instant Sale’ feature to complete the transaction immediately.
- Legal Processes: The DLD duly handles all legal processes and formalities for ‘instant sale’ transactions.
How to Use the Instant Sale DLD Feature?
Follow these simple steps to use DLD’s instant sale feature:
- Visit the official DLD website or open the Dubai REST application.
- Login using your credentials, or sign up if you do not have an existing account.
- Enter the property details in the required columns.
- Once the platform has showcased the estimated valuation, please proceed with your decision to execute or discard its transaction.
Using Instant Sale with Other DLD Features
An Instant sale is just one of the many DLD valuation services. It can be used with the platform’s other Digital Dubai features to ensure easy online property valuation in the UAE:Â
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Ejari Registration
DLD’s Ejari services are used for rental purposes. The instant sale feature can help landlords evaluate their property’s market value before registering it.Â
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Dubai REST App
The instant sale feature is also available on the Dubai REST mobile app. It can be used with many other services for property valuation in Dubai.Â
Advantages of the DLD Smart Evaluation SystemÂ
The introduction of the instant sale feature has offered numerous advantages to property buyers and sellers. Some of the key benefits include:
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Sale Within Minutes
DLD’s instant sale completes property sales within minutes and saves immense time. It also helps avoid time-consuming tasks like physical checks, procedural delays, and other hassles.Â
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Credible Evaluation
Property valuations in Dubai depend on multiple factors. The smart evaluation technology helps avoid human errors and provides credible evaluations based on recent market data.Â
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Transparent Transactions
Dubai Land Department (DLD) officially oversees the instant sale of properties. Thus, buyers and sellers can stay assured of the details and transaction processes.
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Super Convenient
DLD’s smart evaluation has simplified property valuation in Dubai. Anyone can now easily enter a property’s details and ascertain its value from anywhere at any time.Â
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Cost Saving
The new instant sale feature saves time and money that would otherwise be spent on physical checks, in-person meetings, and other processes.Â
Who All Benefit from DLD Smart Evaluation?
The new instant sale feature is available to anyone looking for real estate valuation in Dubai, including buyers, sellers, investors, and brokers.
- For sellers, it can help immediately ascertain their property’s current market value.Â
- For buyers, it provides real-time price data and expedites decision-making.
- Investors can use smart evaluation technology to map lucrative properties and investment avenues.Â
- Real estate agents can utilise it to simplify their operations.
Every stakeholder involved in real estate transactions can use the smart evaluation instant sale feature as a property valuation tool.
More About the Dubai Economic Agenda D33
The Dubai Economic Agenda D33 was introduced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on January 4, 2023. The programme aims to double Dubai’s GDP and position it as one of the top 3 global cities by 2033.
The key focus areas of the programme include:
- Tourism
- Business Environment
- Digital AdvancementÂ
- Financial Services
- Logistics
- Manufacturing
- SMEs
- Industrial Growth
- Sustainable DevelopmentÂ
Summing Up
The instant sale DLD feature is a revolutionary step in simplifying real estate transactions. Using the DLD smart evaluation system changes how properties are evaluated and sold in Dubai. The feature can be used by sellers, buyers, investors, and real estate agents. It helps sell properties without any audit process, confirm their valuation, and issue new title deeds within minutes. This latest property valuation tool marks the latest chapter in DLD’s consistent attempts to digitize Dubai’s real estate sector.
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Frequently Asked Questions(FAQ’s)
Property details like location, size, and other information must be provided using the smart evaluation feature.
No, the DLD smart evaluation system can only be used to evaluate residential properties, particularly apartments and villas located in freehold areas.
The smart evaluation feature provides online property evaluation in the UAE. Compared to traditional methods, it is more time-saving, cost-effective, and offers reliable valuations.
Yes, the DLD smart evaluation feature can evaluate multiple residential properties.
The smart evaluation feature allows you to access property prices within 15 seconds and issue a title deed in a few minutes.
Yes, it is a chargeable feature, and the fees vary from one property to another. Instant sales by DLD can be accessed from the DLD website or the Dubai REST app. What information do I need to provide for DLD smart evaluation?
Can I use smart evaluation for commercial properties?
How does smart evaluation compare to other ways of real estate valuation in Dubai?
Can I use the smart evaluation feature for multiple properties?
How long does the DLD property valuation process take through the instant sale feature?
Is the instant sale feature a chargeable service?
