New initiatives to stimulate the real estate sector

The Director General of the Dubai Land and Property Department, Eng. Marwan Ahmed bin Ghalita, opened yesterday the activities of the 21st edition of the “IBS 2025” (IPS 2025), which will continue until April 16, with the participation of more than 300 local and international exhibitors from 85 countries, and in the presence of more than 25 thousand visitors, at a time when the department revealed new initiatives that stimulate growth in the Dubai real estate sector during the coming periods, the most important The smart real estate audit initiative, and an initiative to stimulate attracting more real estate funds, and sorting villas in ownership areas for citizens.

Bin Ghalita said that the “Dubai Land” organization, as a strategic partner, comes within the framework of its keenness to empower the real estate sector by opening effective communication channels between all concerned authorities.

He added, “(IPS) embodies a strategic platform that brings together the most prominent players in the real estate sector under one umbrella, and contributes to reviewing the latest real estate solutions and smart technologies that support the growth of sustainable cities.”

Bin Ghalita continued: “The existence of this large number of international exhibitors reflects the increasing confidence in the Dubai Investment Environment, and supports our targets in promoting transparency and the attractiveness of the real estate market.” He pointed out that the organization of the exhibition comes in line with the “Dubai Real Estate Sector Strategy 2033”, which aims to enhance Dubai World competitiveness, and establish an integrated and sustainable real estate system, capable of looking forward to the future and achieving balance Between supply and demand, and support the comprehensive economic growth plans of the emirate.

Bin Ghalita toured the exhibition, and reviewed the wings of many participating bodies and companies, as he listened to an explanation about the projects, services and investment solutions offered, stressing that this event enhances the competitiveness of the real estate market, and opens new prospects for development in Dubai and the region.

For his part, the Executive Director of the Real Estate Registration Sector in the Land and Property Department in Dubai, Majid Saqr Al -Marri, stated that “the department is currently working on preparing for new important initiatives that stimulate more growth in the Dubai real estate sector during the coming periods.”

He added in statements to «Emirates Today», on the sidelines of the exhibition’s activities, that “one of the most prominent of these initiatives is the smart audit initiative that is based on the use of artificial intelligence technologies in the audit of real estate actions registered in Dubai.”

He explained that «the launch of smart scrutiny using artificial intelligence systems will contribute to shortening the time of real estate actions, and to accelerate the period of completion that currently takes about 20 minutes at an average rate, to be shortened at great rates during the coming period,” noting that the initiative keeps pace with the digital transformation in the real estate sector by using algorithms with artificial intelligence, and in a way that enhances access to high accuracy rates in the scrutiny in a short time. Supports satisfaction and happiness rates.

Al -Marri expected the launch of the initiative during the second half of this year, after the completion of the experimental stages.

Al -Marri continued: «One of the new initiatives is the launch of sorting operations for villa projects in the ownership areas for citizens, after the initiative to sort the apartment units in the ownership areas allocated to citizens.

He stressed that “the screening operations, whether in apartments units or villas, will stimulate real estate activity in Dubai, in order to support the increase in sales and real estate behaviors in general during the coming period.”

Al -Marri stated that «(Dubai Land) is working on motivating initiatives to attract more real estate boxes to Dubai markets during the coming period.

He explained that «Dubai Real Estate Strategy aims to increase the volume of real estate transactions in Dubai by 70%, to reach a trillion dirhams by 2033, double the value of the real estate portfolios to 20 billion dirhams, double the added value of the sector in the GDP to 73 billion dirhams, and raise the percentage of housing houses to 33% of the emirate’s population.

“Dubai Land” reviews a group of its strategic initiatives, in a way that enhances the leadership of Dubai as the global capital of real estate innovation, a first destination for investment worldwide, including the “It is the Leadership” initiative aimed at enhancing the role of women, its contribution to the sustainability of the real estate market, and the “real estate coding” project that makes Dubai the first party in the Middle East to adopt the “Blockchain” techniques in registering ownership, and the “Tayseer” initiative. To activate the owners ’committees and achieve transparency in societies with joint ownership, and the“ Tamkeen ”initiative that attracts the Emirati competencies to lead the real estate future, as well as the Dubai Real Estate Program that expands the opportunities for Emiratization in the real estate mediation sector.