To improve openness, effectiveness, and decision-making in the real estate industry in Abu Dhabi, the Abu Dhabi Real Estate Centre (ADREC), which oversees and regulates the city’s world-class real estate industry, has partnered with two of the top real estate portals, Bayut and Dubizzle and Property Finder, in a Memorandum of Understanding (MoU).
Rashed Al Omaira, ADREC Acting Director General, said, “We are pleased to sign these two MoUs with our partners. This move reflects ADREC’s belief in the importance of forging partnerships with both the public and private sectors, aiming to contribute to the development of an integrated system that serves the center’s vision of positioning Abu Dhabi as a preferred investment destination. This entails providing innovative services, flexible legislation that aligns with sector needs, and ensuring transparent and accessible data for all stakeholders to support investment decisions.”
To guarantee that the end user is provided with accurate, non-conflicting purchase-related information through the combination of these websites, the center welcomed the signing of two Memorandums of Understanding with its partners. Furthermore, it will facilitate the channel partners’ efforts to streamline the customer purchase journey. In addition to improving sector services, the signing of the MoU raises the bar for real estate transparency.
The MoUs seek to improve the quality and efficiency of the real estate market, present cutting-edge solutions for stakeholder security, give customers transparent data, and foster the expansion of the industry in Abu Dhabi in the future. This entails planning seminars and training sessions for business professionals to guarantee adherence to the law, acquire market intelligence, and oversee real estate listings to guarantee compliance with Abu Dhabi’s Real Estate Regulatory Law. In addition to handling regulatory issues and advertising real estate services both domestically and internationally. Utilizing data-driven cooperation to enable sector partners to obtain important insights that support investment decision-making and improve real estate transparency is at the heart of this partnership.
Haider Ali Khan, CEO of Bayut and dubizzle and the Head of Dubizzle Group MENA, expressed his enthusiasm about the partnership, stating, “As we initiate this impactful collaboration with the Department of Municipality and Transport in Abu Dhabi, it serves as evidence of our commitment to nurturing innovation, transparency, and sustainable advancement within the real estate sector. In tandem with the DMT, our collective goal is to generate meaningful effects that impact the wider community, thereby contributing to the ongoing success of the UAE.”
“We are proud of this partnership which is a testament to Abu Dhabi’s vision, alongside our own at Property Finder, in providing the commitment to promoting trust and transparency in the real estate market. At Property Finder, we have experienced many similar and successful partnerships, and we are looking forward to this joint force helping to pave the way for a vibrant real estate sector, driving sustainable growth and prosperity for the nation becoming the destination of choice for regional and international capital investment,” said Fouad Bekkar, Group Vice President – Data & A.i. at Property Finder.