Dubai Land Department directs property owners to engage accredited valuation offices for the implementation of corporate tax legislation

Dubai, United Arab Emirates, 12 November 2023: To reinforce transparency within the real estate market and promote adherence to relevant laws and regulations, Dubai Land Department (DLD) is committed to providing property owners with accessible resources. The official list of accredited companies and valuation offices is available on DLD’s official website (dubailand.gov.ae) and the Dubai REST app, all compliant with the prerequisites for implementing corporate tax per Decree Law No. 47 of 2022.These directives are thoughtfully designed to guide companies in preventing potential legal or financial infractions, thereby supporting continuous growth and contributing to the development and prosperity of Dubai’s real estate sector.

Summary of weekly real estate transactions for the week ending 27 October 2023.

Dubai: The real estate and properties transactions valued at 23.38 billion in total during the week ending 27 October 2023. The sum of transactions was 1,761.

 265 plots were sold for AED 2.84 billion, 1,496 apartments and villas were sold for AED 3.71 billion.

 The top three transactions were a land in Al Yufrah 1 sold for AED 74.78 million, followed by a land that was sold for AED 64.88 million in Al Hebiah Fourth, and a land sold for AED 61.92 million in Al Goze Second in third place.

Summary of weekly real estate transactions for the week ending 20 October 2023.

Dubai: The real estate and properties transactions valued at 8.2 billion in total during the week ending 20 October 2023. The sum of transactions was 1,524.

 232 plots were sold for AED 2.57 billion, 1,292 apartments and villas were sold for AED 3.08 billion.

 The top three transactions were a land in Al Hebiah Fourth sold for AED 65.13 million, followed by a land that was sold for AED 56.67 million in Al Thanayah Fourth, and a land sold for AED 51 million in Al Yufrah 4 in third place.

To enhance transformation efforts in the real estate sector
Dubai Land Department launches ‘Munaqasat’ service through ‘Mollak’ system to govern submission of tenders for the jointly owned property (JOP) sector

• The service provides transparency and ensures the best quality services at reasonable and competitive prices
• It simplifies the tendering process and links jointly owned property companies with service providers
• Fully digitised procedures to provide realistic budgets for service fees and maintenance
• Enhance governance of the real estate sector and transparency in transactions
• Marwan bin Ghalita: The launch of Munaqasat builds on the department’s continuous efforts to bolster the readiness and sustainability of the real estate sector, and fosters effective partnerships between all involved parties