The business sector of Dubai is ever-growing and ever flourishing, and so is the real estate sector. To enhance buyer protection in Dubai’s real estate sector, DLD has introduced a new system in collaboration with Real Estate Regulatory Authority (RERA). This new system Madmoun aims to authenticate advertisements, offering more transparency.
So, let’s delve deeper into this new initiative by DLD—Madmoun and what it has to offer.
Things You Need to Know about DLD’s Madmoun Service
The DLD’s service will be accessible through the Trakheesi System. The service Madmoun involves the use of QR codes which will be issued for real estate advertisement permits.
Also, this service comes as a part of DLD’s ongoing effort to remove fake advertisements and boost investment in the sector.
Dubai Land Department aims to provide awareness within the real estate community and protect investors against unreliable sellers/advertisements.
Trakheesi
The Trakheesi system is an initiative by the Dubai Land Department to regulate the procedures and transactions within the real estate sector.
Moreover, to publish any property advertisement in Dubai, it is compulsory to obtain a marketing permit – a “Trakheesi Permit.” Real estate agencies can’t list the advertisement without this permit.
The permit is required for advertising everywhere in Dubai, such as newspaper advertisements, electronic, and almost all other mediums.
What’s more, this QR service is effective from April 24, 2023. All the real estate companies in Dubai will be featuring the QR code on their print and audiovisual advertisements.
Registration
Real estate companies can activate their QR codes through the Trakheesi System. This enables Madmoun, the Dubai Land Department’s advertisement verification service.
Also, RERA will only verify the real estate advertisements that have QR codes. Furthermore, RERA has encouraged the companies to adhere to the new service so that they may avoid any violation.
How is Madmoun Going to Benefit Customers?
The service aims to allow customers to easily and swiftly check the authentication status of the advertisement. Through scanning the code, one can inquire whether the advertisement has been approved by RERA.
Furthermore, comprehensive information about the real-estate company, property’s status, and condition will be available to the customers through DLD’s website. Also, the link is secure and prevents any alteration of data.
All in all, customers will have access to the following;
- Property specifications.
- Details of the advertising company.
Using the DLD’s Madmoun service, customers will be able to avoid property scams.
What Do They Say About It?
Marwan bin Ghalita, CEO of RERA at DLD, said: “The service aligns with DLD’s strategy to make Dubai ‘The World leader in Real Estate Investments’ by harnessing technology to develop real estate products according to the directives of the wise leadership.”
“It also supports DLD’s mandate of achieving the goals of the Dubai Economic Agenda ‘D33,’ which was launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to generate new economic value from digital transformation towards achieving His Highness’ vision of consolidating Dubai’s position as a global capital of the digital economy and a key player in the global digital system.”
Madmoun Service—Concluding Remarks
This new initiative by the DLD aligns perfectly with its long-term goals of positing Dubai as a leader in the real estate sector. With that, DLD’s commendable new service, “Madmoun,” will not only help regulate the sector’s advertisements but also boost the confidence of its investors.
Madmoun indeed generates an investor-friendly environment by tackling the fraudulent components of the real-estate community.
