ADREC Collaborates With Bayut, Dubizzle, And Property Finder To Strengthen Abu Dhabi Real Estate

The Abu Dhabi Real Estate Centre (ADREC), a key regulator and custodian of the emirate's real estate sector, has recently entered into a strategic partnership with two of the leading real estate platforms, Bayut and Dubizzle, along with Property Finder. This collaboration is formalized through the signing of a Memorandum of Understanding (MoU) aimed at bolstering transparency, efficiency, and decision-making within Abu Dhabi's real estate market.

Rashed Al Omaira, ADREC Acting Director General, emphasized the significance of these partnerships. He highlighted ADREC's commitment to developing an integrated system that not only aligns with the sector's needs but also positions Abu Dhabi as a top investment destination. The initiative focuses on offering innovative services, flexible legislation, and ensuring data transparency and accessibility to facilitate informed investment decisions.

The MoUs are set to enhance the quality and efficiency of the real estate market by introducing advanced solutions for stakeholder security, providing transparent data to customers, and supporting future growth in Abu Dhabi. This includes coordinating industry programs and workshops, ensuring legal compliance, gathering market insights, and monitoring real estate advertisements to ensure they comply with Abu Dhabi's Real Estate Regulatory Law.

Haider Ali Khan, CEO of Bayut and Dubizzle and Head of Dubizzle Group MENA, expressed his enthusiasm for the partnership. He stated that this collaboration with the Department of Municipality and Transport in Abu Dhabi underscores their commitment to fostering innovation, transparency, and sustainable progress in the real estate sector. Khan emphasized the goal of creating meaningful impacts that benefit the broader community and contribute to the UAE's ongoing success.

Fouad Bekkar, Group Vice President - Data & A.i. at Property Finder, also shared his pride in this partnership. He remarked that it reflects Abu Dhabi’s vision and Property Finder’s commitment to promoting trust and transparency in the real estate market. Bekkar looks forward to this collaboration driving sustainable growth and prosperity for the nation, making it a prime destination for regional and international capital investment.

This partnership between ADREC and these leading real estate portals is a strategic move towards enhancing service quality and elevating transparency levels in the real estate sector. It aims to streamline processes for channel partners within the customer purchase journey and address regulatory challenges while promoting local and global real estate services. Through data-driven cooperation, sector partners are expected to gain valuable insights that support investment decision-making processes, ultimately contributing to the sector's growth and development in Abu Dhabi.

With inputs from WAM