Thursday 23 November 2017

Dubai launches online real estate portal

The Dubai Land Department (DLD) has announced the launch of eMart, an online portal for the auction, sale and rental of real estate properties.

Dubai launches online real estate portal

Dubai's real estate market has recovered strongly this year

November 20, 2013

DLD, The Emirates real estate watchdog said eMart will support stakeholders across the real estate industry through the provision of online services whilst creating options for investors outside Dubai.

In a report in Gulf Business, Sultan Butti Bin Mejren, director general of DLD said: “We now have a system that, with complete transparency and full credibility gives tenants, owners, and brokers full operational efficiency and reliability in a way that we have not had before, a way that will help boost the local real estate market significantly.”

Dubai’s real estate sector has seen a strong recovery this year after a lull in investment activity in the past three years.

The steep rise in Dubai’s property prices has led to fears of a property bubble repeating itself and in response the government has taken various steps to fend off unhealthy real estate practices by doubling the property transfer fee and bringing into effect mortgage caps on home loans.

The government has also underlined that the emirate’s property market has strong fundamentals insulating it from another crash and Bin Mejren said that DLD is working to develop a comprehensive action plan for the establishment of a real estate climate that is safe and stable.

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