Bayut and the Dubai Land Department (DLD) are celebrating the success of the property valuation tool – TruEstimateTM.
Since its summer launch, TruEstimateTM has surpassed an impressive milestone, with over 100,000 reports generated, underscoring the demand for accurate property valuation tools in the market.
By providing users with detailed, real-time property valuations, the tool is empowering them to make more informed decisions.
“The significant success achieved by ‘TruEstimateTM’ reflects our vision at Dubai Land Department to enhance transparency and drive innovation in Dubai’s real estate market.
“Achieving these numbers in such a short period demonstrates the growing demand for smart solutions that empower investors and buyers to make informed, data-driven decisions.
“At Dubai Land Department, we reaffirm our strong commitment to strengthening our partnerships with tech companies like Bayut to ensure the provision of real estate tools and solutions aligned with our approach to supporting digital transformation and sustainable growth in Dubai’s real estate sector.
“This, in turn, boosts competitiveness and attracts more investments to Dubai, which continues to solidify its position as one of the world’s leading markets”.
Marwan Ahmed Bin Ghalita, Director General, Dubai Land Department
Since Bayut was established in 2008, the company has experienced 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.
This achievement highlights a pivotal transformation in the real estate industry, signaling the growth of Dubai’s property market with buyers, sellers, and investors seeking transparency in the UAE’s competitive real estate market.
“We are thrilled by the incredible success of TruEstimateTM. Reaching 100,000 reports in under five months underscores the vital role accurate valuation tools play in the market and marks a significant move towards enhanced transparency in the UAE’s real estate sector.
“The overwhelming response from property seekers and brokers highlights the pressing demand for transparent, accessible data, akin to what is available in other advanced markets.
“As the appetite for data-driven property solutions continues to grow, we are dedicated to providing innovative tools that bring added value to the industry”.
Haider Ali Khan, CEO, Bayut
Bayut is a part of the Dubizzle Group, formerly known as Emerging Markets Property Group (EMPG). In April 2020, the group merged with the Netherlands-based OLX group in certain key markets, and was valued at $1bn, giving it the coveted unicorn status.
