Bayut Introduces New Property Valuation Tool ‘TruEstimate™️’ – Construction Business News

4 minutes, 14 seconds Read
Bayut launches this tool with data integration from Dubai Land Department

Following the MoU between Bayut, the UAE’s leading property portal, and the Dubai Land Department (DLD), Bayut has further worked on creating a revolutionary AI tool for its users and clients by introducing the innovative smart property valuation service ‘TruEstimate™’, leveraging its data integration with DLD. This AI-powered tool provides accurate property valuations and equips users with data-driven insights into the real estate market. TruEstimate™ aims to revolutionise how homeowners, property sellers, buyers, and agents engage with the dynamic UAE real estate landscape.

TruEstimate™ addresses the critical need to enhance transparency within Dubai’s real estate sector by utilising cutting-edge artificial intelligence technologies. It analyses extensive transactional data from the DLD and property listings, empowering investors with informed decision-making capabilities to fulfil their needs and achieve ambitious goals. This partnership also supports Dubai’s’ Services 360′ policy, a comprehensive initiative aiming to streamline service delivery by integrating data systems across government entities, reducing customer data requirements, and facilitating seamless service access. This policy is a key part of Dubai’s digital transformation strategy, and our partnership with the DLD is a testament to our commitment to this vision.

Buy/sell, rent/lease residential &
commercials real estate properties.

Bayut Introduces New Property Valuation Tool ‘TruEstimate™️’

The UAE property market is experiencing phenomenal growth, with Dubai witnessing a staggering AED 200B transactions in the last six months. This rapid surge and frequent market fluctuations highlight the need for accurate and timely property valuations.

His Excellency Eng. Marwan bin Ghalita, Acting Director General of the Dubai Land Department, said: “At Dubai Land Department, we highly prioritise improving real estate sector data by working closely with our partners from the private sector. This cooperation enhances transparency and trust in Dubai’s real estate market. Our approach uses artificial intelligence and the latest technologies, focusing on customer needs. Today, the launch of the smart valuation service ‘TruEstimate™’ by our partner, Bayut, is a key step in providing accurate property values. This helps stakeholders make confident, informed decisions and enables optimal investment strategies. We welcome this innovation as it improves user experience and sustainably develops the market.”

Commenting on the launch, Haider Ali Khan, CEO of Bayut and Head of dubizzle Group MENA, said: “We’re excited to introduce TruEstimate™ as the latest in our suite of data-driven tools and resources. Since day one, Bayut has prioritised data for creating more transparency and helping consumers make more informed decision-making. In a market characterised by constant change, having a better understanding of home values is essential. TruEstimate™ addresses this need by offering unparalleled access to data-driven property valuations and market insights tailored to the unique needs of the brokers and consumers in the UAE. This also shows how a market can be propelled faster when the private and public sectors work together. We are thankful for the partnership and data collaboration with the Dubai Land Department, which allows us to build tools and move things in the right direction.”

Haider Ali Khan, CEO of Bayut and Head of Dubizzle Group MENA
Haider Ali Khan, CEO of Bayut and Head of Dubizzle Group MENA

Empowering Users with Data-Backed Property Valuations

TruEstimate™ delivers objective estimates of a property’s current market value, considering recent sales of similar properties, current market trends, and property characteristics. The reports are further enriched with market trend visualisations and comparable property analysis, allowing users to understand historical fluctuations, benchmark asking prices, and confidently evaluate potential purchases. By providing this comprehensive data picture, TruEstimate™ equips users to make informed decisions in the evolving local real estate landscape, backed by data from the Dubai Land Department.

To learn about the estimated property value, rental yield, property history, and comparisons with similar properties, users can input their property details—such as Title Deed, Oqood Contract, Unit Number, or DEWA Number—into the platform. The platform will then process this information and generate a detailed report, providing users with a comprehensive understanding of their property’s value and market position.

Informed Decisions at Every Step

TruEstimate™ brings significant value to various stakeholders in the real estate market.

It provides property sellers with a clear understanding of their property’s market value, enabling them to set competitive prices.

Homeowners benefit from the ability to monitor their property value over time, which can inform decisions about potential sales or improvements.

Property buyers gain a reliable estimation of property values for both ready and off-plan properties and a detailed breakdown of all associated buying costs, helping them make better purchase decisions.  

Real estate professionals can gain access to accurate property estimates based on advertised prices and data from the Dubai Land Department, build trust with clients through valuable market insights, and stay ahead of the competition with up-to-date property information. TruEstimate™ not only provides them with reliable data but also enhances their professional credibility and efficiency, making it an invaluable tool in their real estate operations.

TruEstimate™: The Power of Real Estate Data at Your Fingertips

To experience the future of property valuation with TruEstimate™, users can download the Bayut app or visit the website to unlock a wealth of market insights and make smarter real estate decisions.

This post was originally published on 3rd party site mentioned on the title of this site

Similar Posts

    Your Interest
    Your Interest List is emptyReturn to Buying