• His Excellency Eng. Marwan bin Ghalita, Acting Director General of the Dubai Land Department: The new initiative contributes to achieving cooperation and integration between the public and private sectors and enhancing transparency in Dubai’s real estate sector.
  • Haider Ali Khan, CEO of Bayut and Head of Dubizzle Group MENA: The AIpowered solution provides access to data-driven property valuations, specifically designed to meet the unique needs of property buyers and sellers in the UAE

Dubai, UAE – 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 their users and clients by introducing the innovative smart property valuation service ‘TruEstimate™’, leveraging their 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 sourced 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, aiming to streamline service delivery by integrating data systems across government entities, reducing customer data requirements, and facilitating seamless access to services.

The UAE property market is experiencing phenomenal growth, with Dubai alone witnessing a staggering AED 200B worth of transactions in the last 6 months alone. This rapid surge, coupled with frequent market fluctuations, highlights 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 is also a testament to how a market can be propelled faster when the private and public sector work together. We are thankful for the partnership and data collaboration with the Dubai Land Department, which allows us to build such tools and move things in the right direction."

Empowering Users with Data-Backed Property Valuations

TruEstimate™ delivers an objective estimate 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 evaluate potential purchases with confidence. By providing this comprehensive data picture, TruEstimate™ equips users to make informed decisions in the evolving local real estate landscape, backed by data sourced directly from the Dubai Land Department.

To learn about the estimated property value, rental yield, property history, and comparisons with similar properties, users can simply input their property details—such as Title Deed, Oqood Contract, Unit Number, or DEWA Number—into the platform, which will then generate a detailed report.

Informed Decisions at Every Step

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

For property sellers, it provides 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, informing any decisions towards potential sales or improvements.

Property buyers gain a reliable estimation of property values for both ready and off-plan properties, as well as 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™: 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 and unlock a wealth of market insights and make smarter real estate decisions.

-Ends-

About Bayut:

Bayut is the uncontested market-leader when it comes to real estate portals in the UAE. With 4000+ real estate agencies choosing Bayut as their advertising partner, with over 400 Million page views per year. +87.2 Million visits, Bayut has successfully established itself as the number one platform people trust when it comes to property search.

A technology driven platform, Bayut is known to keep innovation at its core with updated, detailed transactional and advertised insights, extensive area and building guides, and revolutionary new products and features, allowing end-users to make the most well-researched decisions when searching for properties in the UAE.

Since Bayut was established in 2008, the company has seen accelerated growth, by focusing on increasing not only the number of real estate partners it works with, but also obtaining substantial traffic growth to claim the status of market leaders in the competitive real estate portal landscape in the UAE, with an extensive portfolio across all seven emirates.

Haider Ali Khan joined Bayut in 2014 as the CEO and the company has continued to showcase very high growth over the past years including closing multiple rounds of funding from top Venture Capital firms such as Naspers, KCK, Exor, and other notable names.

Bayut is a part of the Dubizzle Group, formerly known as Emerging Markets Property Group (EMPG), which also operates the largest property classified sites in. In April 2020, the group merged with the Netherlands-based OLX group in certain key markets, and was valued at $1 Billion, giving it the coveted unicorn status. The group now also owns and operates dubizzle in the UAE, Our bespoke classifieds portals are among the strongest brands in our markets, primarily encompassing the Greater MENA and South Asia regions. Our flagship ventures include dubizzle and Bayut in the UAE and the Greater MENA Region, as well as Zameen and OLX in Pakistan.