Dubai Land Department (DLD) has announced launch of a new electronic service called Madmoun to modernize and develop real estate governance procedures and enhance investor confidence. The service is accessible through the Trakheesi System and is represented by a QR code issued for any real estate advertisement permit. As of April 24th, all real estate companies are required to feature the QR code on their print and audiovisual advertisements.
This initiative aligns with DLD’s strategy to make Dubai the world leader in real estate investments by using technology to develop real estate products according to the directives of the wise leadership. Madmoun supports DLD’s mandate of achieving the goals of the Dubai Economic Agenda ‘D33,’ which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum.
Customers can use the QR code to verify the advertisement’s authenticity and validity, ensuring that it has been approved by the Real Estate Regulatory Agency (RERA). The QR code also provides complete advertisement information, including details about the advertising company, the property’s condition and specifications.
According to His Excellency Eng. Marwan bin Ghalita, CEO of RERA at DLD, the new service enhances transparency in the real estate sector and provides proactive and streamlined real estate services with integrated data. This will help achieve sustainability in the development and growth of the real estate sector, keeping pace with best international practices and standards, and positioning Dubai as a pioneering model in this field.
To prevent any violation resulting, real estate companies must adhere to this service, and customers are strongly advised to only engage with real estate advertisements that feature the QR code to ensure the protection of their rights and prevent their exposure to any fraudulent or unreliable transactions.
In conclusion, the launch of Madmoun is a significant step towards modernizing and developing real estate governance procedures in Dubai. The initiative enhances transparency in the real estate sector, streamlines real estate services, and provides integrated data, thereby positioning Dubai as a global capital of the digital economy and a key player in the global digital system.
Source: Dubai Land Department (DLD)