Proptech seeks to change land buying in Dubai

The land selling market in Dubai has long been plagued by complexities and a lack of transparency. According to recent market reports, Dubai’s real estate sector saw a total transaction value of Dh300 billion in 2022, with land sales comprising a significant portion. Despite the high volume, the process of buying land remains fraught with difficulties. Transactions are predominantly broker-driven, leaving both sellers and buyers to navigate a disorganized and stressful process. With no central system to gauge market volume and multiple agents listing the same plots at different prices, determining the true market value of land has been a daunting task. This fragmented approach often results in incomplete or missing advertisements, adding to the confusion and inefficiency.

A study by Property Finder revealed that over 60% of potential buyers in Dubai find the process of purchasing land confusing and overly complicated. The lack of clear information and transparency in pricing often leads to prolonged decision-making and missed opportunities.

In an era where technology continuously reshapes industries, Realiste, a Dubai based company specializing in AI-driven real estate solutions, has unveiled a new feature on its platform: “Project Land.” By digitizing all vacant land plots in Dubai, Realiste has created a comprehensive database that excludes production sites and apartments. This database includes precise dimensions and locations of each plot, eliminating the need for physical location checks.

“Project Land” is the latest feature on the Realiste platform, enabling users to browse, assess, and purchase land plots directly online. This feature provides an unprecedented level of transparency and convenience for both developers and individual buyers.

Users can access the entire database of plots for sale in Dubai, complete with accurate valuations and potential development analyses. According to Realiste, they have digitized nearly 10,000 vacant land plots, ensuring comprehensive coverage of the market. The platform’s AI capabilities suggest the most suitable type of real estate to develop—whether luxury or budget—and provide detailed profit and loss (P&L) analyses. This includes insights on unit prices, unit footage, and competitor analysis. With “Project Land,” buyers can view all available plots in one place, significantly reducing the complexity and stress associated with land purchases. This centralized approach ensures buyers are well-informed and can make decisions with confidence

By consolidating listings from multiple agents and providing consistent pricing information, Realiste helps eliminate the discrepancies that often confuse buyers. A survey by Bayut found that 70% of buyers are frustrated by inconsistent pricing, an issue that Realiste aims to resolve.