DUBAI - The Dubai Land Department (DLD) has launched the Instant Sale feature, which utilises smart valuation technology in real estate transactions without the need for an audit.

The move is in line with DLD's efforts to enhance the use of innovative solutions and to achieve Dubai Economic Agenda D33's goal of positioning Dubai as the world's best city to live and work in.

The Instant Sale feature applies to the business of selling real estate units, including flats and villas, located in freehold areas through the Real Estate Registration Trust.

The aim is to streamline the process and improve the customer experience in DLD by ensuring that contracts are signed by all parties at the Real Estate Registration and Escrow Office.

Prices are confirmed through a smart valuation process, followed by payment of fees and issuance of new title deeds within minutes.

Sultan Butti Bin Mejren, Director General of DLD, noted that Dubai's real estate sector has performed exceptionally well and grown exceptionally well, with annual real estate transactions exceeding Dh5 trillion for the first time in 2022.

This success was attributed to the directives of the wise leadership and the high priority given to the real estate sector, as it is an important pillar of sustainable development.

He also highlighted the DLD's commitment to strengthening the infrastructure of the real estate sector through innovative initiatives and projects that will help advance the digital ecosystem.

This new initiative will give a strong impetus to the sector to sustain this exceptional growth and achieve an outstanding record in the number of sales transactions in the coming phase.