The Dubai Land Department (DLD) has introduced the Instant Sale feature, which utilizes smart valuation technology to streamline real estate transactions without the need for audits. This initiative aligns with DLD’s goal of promoting innovative solutions and positioning Dubai as the world’s best city to live and work, as outlined in the Dubai Economic Agenda D33.
The Instant Sale Feature applies to sales operations for real estate units, including apartments and villas, located in freehold areas via Real Estate Registration Trustees. The feature aims to enhance the customer experience by requiring all parties to be present at the real estate registration trustee office to sign contracts. Prices are confirmed through the smart valuation process, followed by the completion of payment of fees and issuance of a new title deed within minutes.
According to Sultan Butti Bin Mejren, the Director-General of DLD, the Dubai real estate sector has seen exceptional growth, with annual transactions surpassing half a trillion Dirhams in 2022 for the first time. This success can be attributed to the leadership’s directives and focus on the real estate sector as a crucial component of sustainable development. Bin Mejren emphasized DLD’s commitment to improving the real estate sector’s infrastructure with innovative initiatives and projects that contribute to the digital ecosystem’s advancement.
The Instant Sale feature will serve as a strong motivator for the real estate sector to maintain its outstanding growth and achieve record-breaking sales transactions in the coming stages. This new development is a testament to Dubai’s commitment to innovation and progress in the real estate industry, making it more accessible and efficient for buyers and investors.
Paragon Properties pride ourselves on making this a seamless process for both buyer and seller, managing each aspect of the buying process.
Contact us today to find out more information.