DLD partners up with Digital Dubai to boost property market transparency!

Dubai Land Department has announced a partnership with Digital Dubai that will introduce specialised indicators for residential and commercial property sale prices to boost transparency for investors.

How did this come about?

Dubai’s real estate sector contributed 7.5% to the city's GDP in 2023 and is largely know as one of the most vital industries.

However, despite this transparency within real estate has always been a key area of focus in ensuring investor confidence and market stability for the government.

This new collaboration between Digital Dubai and the Dubai Land Department is just to enhance that transparency by providing real-time tracking of property prices and transaction values across various locations in the city.

The partnership will generate statistical indicators that monitor real estate price trends, helping investors, developers, and decision-makers make informed choices.

Hamad Obaid Al Mansoori who is the Director General of Digital Dubai, shared that this initiative aligns with Dubai’s vision of becoming a global investment hub, especially in the real estate sector.

The positive impact this will leave on the property market

One of the key outcomes of this partnership is the development of accurate indexes that reflect real market prices and trends, similar to the RERA rental Index.

This data will be invaluable for investors who are looking to plan strategically and forecast future developments.

In Allsopp & Allsopp’s Q3 2024 market snapshot, we shared that Dubai’s property value has continued to rise with the average price per square foot reaching AED 1,511—up from AED 1,405 during the same period in 2023.

The steady increase in property prices, paired with enhanced transparency, will likely increase investors' confidence in the market’s accuracy and reliability.

The impact on rentals, and tenant demands

As we’ve seen from Allsopp & Allsopp’s Q3 2024 data, there has been a significant increase in rental demand, particularly in premium communities. Through this, tenants are increasingly opting for flexible cheque payment options despite higher rental prices. This trend is driven by the desire to live in high-quality, comfortable communities that offer a premium lifestyle.

The new partnership between Digital Dubai and the Dubai Land Department will support this demand by providing real-time data that helps tenants and landlords alike make informed choices.

As more accurate market data becomes available, property owners will have a better understanding of rental trends, allowing them to offer competitive yet transparent pricing structures and tenants can plan their payment options better.

How this partnership will drive growth in the market

This partnership is not just about tracking real estate prices—it’s also about building a safer future for Dubai’s property market.

By providing accurate, real-time data, this collaboration will help monitor market performance, offering insights into both residential and commercial sectors and will enable stakeholders to plan more effectively for the future.

Now, isn’t that something!

If you are considering investing in Dubai’s property market, and are searching for accurate statistics to learn the market better - you could take a read through our Allsopp & Allsopp Q3 2024 Market Snapshot!

And if you are set to invest, you could drop our in-house team of experts a line to know more or check out our live listings!