Last month in real estate: July 2019 real estate news updates
Another month has flown by and with that MyBayut is back with our monthly roundup of the most notable real estate news in Dubai for the previous month. For July 2019, there have been some major Dubai property news updates coming from all the major stakeholders in the UAE real estate market. Let’s take a look at the most momentous Dubai real estate news updates in July 2019.
TOP REAL ESTATE NEWS IN DUBAI IN JULY 2019
Here is a list of the most noteworthy real estate news in Dubai for July 2019.
BAYUT LAUNCHES INNOVATIVE APP EXCLUSIVE TO REAL ESTATE AGENTS IN THE UAE
The first real estate news in Dubai for July 2019 that agents should particularly take stock of, is the launch of BayutPro by the UAE’s leading property portal. The BayutPro app, which is available on Google Play and the AppStore will cater exclusively to all the UAE real estate agents to increase productivity and maximise targets.
BauytPro is a new feature-enriched lead management tool that will enable real estate agents to follow up on leads in a timely manner and advertise their properties in the best way possible. The innovative features that are offered in the app include TruCheck™ which agents can use to advertise the validity and availability of properties listed on Bayut and SmartLeads™ which gives agents an understanding of the client’s preferences and property needs. To know about all what this amazing real estate app has to offer, here is a guide to all the features of BayutPro. Property agents registered on Bayut will have direct access to download the app and use it on the go.
Over the past few months, Bayut has been at the forefront of all UAE the real estate market news stories. Just last month they the digital 2D and 3D floor plans for properties in the UAE was launched which is available to all tenants and investors in the country. This was followed by the launch of Bayut.sa, their real estate portal in Saudi Arabia which will be lead by CEO Haroon Rashid, a former PayPal executive.
Keep an eye out on the Bayut After Hours section of this blog, so you can stay up-to-date with all the latest developments from Bayut.
20 PROPERTY INVESTORS IN DUBAI RECEIVE THE LONG TERM UAE RESIDENCY VISA
Our next feature for property news in Dubai is related to the recently announced 5-year UAE residency visa for real estate investors in Dubai. About 20 investors in the Dubai real estate market have been issued this long term UAE visa since it was announced a few months back.
The property investors who have been issued the Golden Card are said to have topped AED 200M in real estate investments in Dubai and belong to 12 nationalities which include expats from India, Pakistan, Iraq, Jordan amongst others. The visa privileges are also said to benefit the wives and children.
To know more about how you can be eligible as a real estate investor for this visa, here is an article that details the requirements for the long term UAE Residency visas of all categories.
EMAAR REVEALS FIRST 3D PRINTED HOMES IN ARABIAN RANCHES 3
Emaar has put forward one of the most impressive Dubai property news updates this July when they announced that they are building the first-ever 3D printed home in Dubai.
Launching for the first time ever, Emaar’s 3D printed house will be situated in the new Arabian Ranches 3 community. Local contractors are said to facilitate construction of the building. Emaar says this move will help serve as a stepping stone to creating a future where customers can ‘design, download and print’ their homes in their integrated communities.
“As the pioneer of integrated communities in Dubai and the trend-setter in the region’s property sector, our plans to embrace 3D printing of homes is an integral part of our digital-first and customer-first strategy. Through this, we are not only positioning ourselves as an early adopter of advanced technology but also creating long-term value for our customers as 3D printing brings numerous advantages such as reduced cost of construction, more efficient use of materials and higher levels of sustainability,” said Mohamed Alabbar, chairman of Emaar.
3D printing is the future of real estate in Dubai and the future is now. Browse through Bayut’s latest listing for villas for sale in Arabian Ranches 3 if you’d like to be part of this futuristic community.
FIFTH PHASE OF EXPO GOLF VILLAS LAUNCHED
Another important piece of real estate news in Dubai from Emaar is the launch of the fifth phase of the Expo Golf Villas in Emaar South. This phase is set next to an 18-hole championship golf course and will feature 302 three and four-bedrooms villas ranging in size from 123sqm to 155sqm.
One of the major aspects of this project is that it’s just mere minutes away from two prominent locations: the Expo 2020 Dubai site and the Al Maktoum International Airport. Investors are also promised exceptional lifestyle facilities and integrated amenities within walking distance of the homes.
Want to be an owner of one of the homes in the Expo Golf Villas community? As per Bayut’s current listings, the sales prices for a 2000 sq.ft. villa start at AED 900k. Browse through the Expo Golf Villas for sale to find your prefered villa configuration today!
DLD RELEASES MOLLAK SYSTEM TO MANAGE CO-OWNED PROPERTIES IN DUBAI
Another major Dubai property market news update from the Dubai Land Department (DLD) is the launch of the Mollak system – an integrated electronic system to monitor and manage co-owned property projects in Dubai. This new system was launched via DLD’s regulatory arm, the Real Estate Regulatory Agency (RERA).
The Mollak system is the first-of-its-kind in the Dubai real estate market. It will monitor accounts related to service charges in co-owned property projects by relying on the financial accounts operating according to the mechanism of the escrow account. With the Mollak system, RERA aims to ensure smooth and easy operations between co-owned property owners with their property managers.
“Thanks to the innovative new Mollak system, co-owned property projects will be managed with the utmost provision of high-quality services in line with the expectations of owners and residents,” said Mohammed bin Hammad, Senior Director of the Real Estate Relations Regulatory Department at RERA.
That’s all we have for this month’s round-up of property news in Dubai. Subscribe to MyBayut if you’d like to receive Dubai real estate news updates like this straight to your email.
Now that you’ve caught up with all the real estate news in Dubai for the last month, check out our round-up of all the awesome August 2019 events in Dubai to see what’s in store. The Eid Al Adha 2019 holidays are also around the corner, so take advantage of all the amazing Eid Al Adha offers or check out these amazing Eid Al Adha events in Dubai.