DLD adopts AI in the smart valuation process

In line with the Dubai Paperless Strategy and to achieve the government’s smart transformation strategy, Dubai Land Department, through the Registration and Real Estate Services Sector, announced the completion of a project that relies on artificial intelligence in the smart valuation process of real estate units.

The first-of-its-kind project relies on artificial intelligence in the smart valuation process for real estate units. As a result of this project, DLD would be contributing to improving the quality, efficiency and readiness of smart government services to keep pace with the requirements of the future and meet the needs of society as well as simplify procedures by managing and reducing the time taken to implement the valuation process.

Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector at DLD

Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector at DLD described this service as a major development for providing quality services with a high level of performance to ensure customer comfort and happiness. He added: “The smart valuation team has worked with a third party from the private sector, represented by ‘Crayon,’ to achieve an unprecedented reliance on artificial intelligence in the smart valuation of real estate units and provide an immediate, reliable and robust service. As a result, real estate units will be valuated without the need for most of the required documents through the interconnection of local databases and external systems, using an advanced model of artificial intelligence, based on accurate algorithms to analyze millions of transactions and data with extreme accuracy.

The steps to conduct the valuation are handled through Dubai REST, starting with establishing the type of user, determining the means of entry, submitting the ID number, and receiving a letter containing the verification number. Once all the data of the owner and that of the owned real estate appears, the user would select the property to be valuated for its data to be displayed. After that, all the required documents must be submitted and the fees paid through the Noqodi wallet — a confirmation of the payment process would be generated. The process ends with the delivery of the valuation certificate directly to the client.

DLD expects the project to help reduce the implementation time of valuation services to 15 seconds and reducing their cost by 20% as well as raise customer happiness by 90%.

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