Following DLD’s recent initiatives to elevate the levels of transparency for property seekers, landlords and developers, Bayut and dubizzle have also reinforced their commitment to create a more trustworthy environment by leveraging smart data integration thanks to their recent collaboration with DLD. The leading property portals have also initiated the process of removing thousands of listings for sale on both platforms with an invalid Trakheesi permit in an effort to create a more safe and transparent ecosystem for property seekers.
Bayut already had a headstart in the validation system with their exclusive authentication solution, TruCheckTM, that gained momentum over the last couple of years for bringing in more accuracy and credibility to the property classified space. Following their latest partnership with the government entities, Bayut and dubizzle have taken this a step further and taken the onus of notifying clients since the start of the summer to update the status of their listings with valid permit numbers and accurate trade licence details. After the extensive campaign to educate the market, with the help of DLD’s data collaboration, Bayut & dubizzle are now taking down listings which have not been updated as per the requirements of the regulatory authorities to better serve the consumers’ needs.
Working closely with the DLD, Bayut and dubizzle have expedited updates to their backend technology to rapidly identify listings which are not in-line with the regulations and instruct brokers on how to manage their account to avoid the pitfalls of non-compliance.
Commenting on the initiative, Haider Khan, the CEO of Bayut & dubizzle and Head of EMPG MENA said:
“As the market leaders, we are aware that we have a huge responsibility towards our partners as well as our end-users in not only educating them on the expected norms of advertising property listings but also making sure everyone works towards creating a more transparent environment. By taking the lead to remove non-compliant properties, we will be able to provide more exposure to authenticated properties. This in turn will be much more rewarding for brokerages who make it a priority to follow practices to create a more trustworthy environment and will also tremendously benefit our end-users by showcasing properties that are truly available. We look forward to our collaboration with DLD in creating a safe and transparent market for Dubai property seekers from across the world.”
Bayut is the UAE’s most trusted property website for buying, selling and renting homes. Bayut provides detailed insights, extensive content resources and updated statistics allowing end-users to make the best decision when searching for properties in the UAE.
Since Bayut was established in 2008, the company has seen accelerated growth, increasing not only the number of real estate partners it works with, but also obtaining substantial traffic growth over the past few years. Haider Ali Khan joined Bayut in 2014 as the CEO and the company has continued to showcase very high growth over the past five years including closing multiple rounds of funding from top Venture Capital firms such as Naspers, KCK, Exor, and other notable names. To further expand their reach in this region, Bayut also launched Bayut.sa in 2019, with its headquarters in Riyadh.
Bayut is a part of the Emerging Markets Property Group (EMPG) which also operates the largest property classified sites in Pakistan, Bangladesh and Morocco. In April 2020, the group merged with the Netherlands-based OLX group in certain key markets, and was valued at $1 Billion, giving it the coveted unicorn status. The group now also owns and operates Dubizzle in the UAE, OLX Pakistan, OLX Egypt and OLX Lebanon, in addition to several other OLX platforms in the broader Middle East region including Bahrain, Oman, Kuwait and Qatar.
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dubizzle is the leading classifieds platform for users in the United Arab Emirates. Since its launch in 2005, dubizzle has become the number one platform for users to buy, sell, or find anything in their community. A community where underused goods are redistributed to fill a new need, and become wanted again, where non-product assets such as space, skills, and money are exchanged and traded in new ways that don’t always require centralized institutions or ‘middlemen’.
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