DLD Adopts AI For Real Estate Valuation Process

DLD Adopts AI For Real Estate Valuation Process
07/09/2020 , by , in INTERNATIONAL

As part of its keenness to provide smart services in line with the Dubai Paperless Strategy and achieve the government’s smart transformation strategy, Dubai Land Department (DLD), 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, in line with DLD’s approach, which regards innovation as a fundamental pillar for making and shaping the future. 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.

To ensure its optimum success, accurate data relying on smart technologies will be provided to customers. The smart valuation service for real estate units will be provided on DLD’s smart application, Dubai REST that customers may download from the App Store or Google Play.

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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