The land market in Dubai has historically faced challenges due to its complexity and lack of transparency. Recent reports indicate that the real estate sector in Dubai recorded transactions worth Dh300 billion in 2022, with land sales playing a major role. Despite the substantial volume, purchasing land remains a challenging endeavor. The market is heavily reliant on brokers, which complicates the process for both sellers and buyers, often leading to a disorganized and stressful experience. The absence of a centralized system to monitor market activity and the practice of multiple agents listing the same plots at varying prices make it difficult to ascertain the actual market value of land. This fragmented market approach often leads to incomplete or missing listings, further complicating the process and reducing efficiency.
A study by Property Finder highlights that over 60% of prospective buyers in Dubai find the land purchasing process confusing and overly complex. The absence of clear information and transparent pricing often results in delayed decision-making and missed opportunities. In response to these challenges, Realiste, a Dubai-based company specializing in AI-driven real estate solutions, has introduced a new feature called “Project Land” on its platform. This feature digitizes all vacant land plots in Dubai, excluding production sites and apartments, and provides a comprehensive database with precise details about each plot, eliminating the need for physical inspections.
“Project Land” allows users to browse, evaluate, and purchase land plots directly online, offering a level of transparency and convenience previously unattainable. Users can access a complete database of plots for sale in Dubai, including accurate valuations and potential development analyses. Realiste has digitized nearly 10,000 vacant land plots, ensuring extensive market coverage. The platform’s AI capabilities recommend the most suitable real estate type for development and provide detailed profit and loss analyses, including insights on unit prices, unit footage, and competitor analysis. This centralized approach simplifies the land purchasing process, reduces complexity and stress, and ensures buyers are well-informed and can make confident decisions.
By consolidating listings from multiple agents and providing consistent pricing information, Realiste helps eliminate discrepancies that often confuse buyers. A survey by Bayut revealed that 70% of buyers are frustrated by inconsistent pricing, a problem Realiste aims to address. The platform’s user-friendly design facilitates easy navigation and evaluation of land plots, particularly beneficial for developers seeking to make informed investment decisions. The “Project Land” feature is poised to transform the land acquisition process in Dubai, allowing buyers to avoid the traditional chaos and frustration, while developers gain access to precise data and expert recommendations for more strategic investments. Realiste’s 2% commission, paid by the buyer, ensures a cost-effective solution for all parties involved.
Realiste is currently in the process of signing contracts with local developers, and the platform will be fully accessible to users in the coming month. This initiative marks a significant step towards creating a more efficient and transparent real estate market in Dubai. Alex, the founder of Realiste, stated: “Developers no longer need to endure disorganized searches. They can come to us, view all available plots, and receive tailored recommendations for optimal development strategies. Our AI not only suggests what to build but also provides a detailed market analysis, ensuring our clients can maximize their investments.” With “Project Land,” Realiste is establishing a new benchmark for land transactions in Dubai, simplifying the buying process, offering unparalleled transparency, and providing valuable insights for both individual buyers and developers. As Realiste continues to enhance its platform, the future of real estate in Dubai appears promising, with technology driving efficiency and clarity in the market.
