The Dubai Land Department (DLD) has introduced Manzili, an online calculator, to help potential real estate investors find the most suitable property based on their financial capacity.
This online tool helps customers find the most suitable property based on information provided during registration such as current and monthly savings, the preferred location and the space required.
DLD expects the calculator to encourage the real estate sector in the emirate by making it easier than ever to find the right property.
In a first, Manzili’s innovative search mechanism is not solely based on customers’ current financial situations but also takes into account their monthly savings capacity to find and display all the properties that match their financial capabilities.
Sultan Butti bin Mejren, Director General of DLD said: "We will continue our efforts to develop partnerships and cooperation with the private sector as well as work together to provide a globally attractive investment environment, achieve the strategic objectives of the government in the real estate sector, and encourage investment in it by creating the ideal climate for real estate investors.”
The Manzili initiative will provide real estate opportunities for young government and private sector employees according to their monthly incomes and takes into account their needs and aspirations for the future, which enhances their culture of saving and supports their investment decisions, DLD said in a statement.
Dubai home prices are expected to fall further this year on oversupply. According to S&P Global Ratings, Dubai residential property prices will fall another 5-10 percent this year due to a continued gap between supply and demand, before steadying in 2020.
(Writing by Seban Scaria, editing by Daniel Luiz)
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