The Dubai Land Department (DLD) has always been at the forefront in coming up with revolutionary applications and tools to modernize and lead the real estate sector towards digitization. Whether it’s ‘DubaiRest’ app., Electronic No Objection Certificate (e-NOC), Green List initiative, publishing transactional data, digitizing the rent collection process using the Central Bank of the UAE’s Direct Debit System (UAEDDS), or launching ‘Instant Sale feature’, DLD has led the real estate sector to what it is today – an epitome of elegance and guiding light for the global developers to follow.
To take this bar of excellence and passion towards digitization to the all-new level, this time Dubai Land Department through the Real Estate Regulatory Agency (RERA), has issued a circular to confirm the implementation of the new electronic service, Madmoun.
What is ‘Madmoun’?
‘Madmoun’ is an application to facilitate the verification of the validity of real estate ads via QR codes. It is part of DLD’s ongoing efforts to modernize and develop real estate governance procedures and enhance investor confidence. ‘Madmoun’ is in line with DLD’s efforts to modernize and develop real estate governance procedures to make Dubai a global leader in real estate investments.
How Real Estate Firms Can Access ‘Madmoun’?
‘Madmoun’ is accessible through the Trakheesi System and is represented by a quick response code (QR Code) which is issued for any real estate advertisement permit.
As of April 24th, 2023, all real estate firms are expected to feature the QR code on their print and audiovisual advertisements. The code will assist customers in verifying the authenticity and validity of the advertisement and in making sure it is approved by RERA. Furthermore, using the QR code, the customers can get access to DLD’s website and view the complete advertisement information, including details about the advertising company, the property’s condition, and specifications. The link can be secured to prevent any modification to the data.
DLD customers can scan the QR code on each real estate advertisement to find out the property’s authorized details and establish if it has been sold or rented. Real estate companies can activate the QR code through the Trakheesi system. RERA confirms that real estate companies must adhere to this service to prevent them from being subject to any violation resulting.
With an objective to create awareness and boost investor confidence, DLD strongly advises all customers and investors 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.
Impact on the Real estate Sector
The implementation of the ‘Madmoun’ electronic service and the QR code system is a cornerstone for enhancing transparency and trust in the real estate sector. The app. will make it simpler for the customers to get access to information about the properties they are interested in at their fingertips and prevent them from any fraudulent activities.
‘Madmoun’ will further improve the level of transparency in Dubai’s real estate sector and drive more investments. ‘Madmoun’ is also in line with DLD’s mandate of achieving the goals of the Dubai Economic Agenda ‘D33,’ under which the Dubai government plans to invest significantly to develop economic infrastructure to drive trade and investments and create more demand for real estate and consolidate Dubai’s position as a global capital of the digital economy and a key player in the global digital system.
To learn more about Dubai Economic Agenda or D33, read our blog – How will D33 – the ambitious project of HH Sheikh Mohd. Bin Rashid Al Maktoum Positively Impact the Real estate Sector