Dubai, a global hub for real estate investment and development, has introduced a new service to verify the validity of real estate advertisements. The move comes as part of the government's efforts to ensure transparency and protect investors from fraudulent activities.

 A new electronic service called Madmoun has been introduced by the Dubai Land Department (DLD) to upgrade real estate governance procedures and boost investor confidence. This service can be accessed via the Trakheesi System and is denoted by a QR code that is issued for every real estate advertisement permit.

Starting from 24 April, all real estate firms are required to display the QR code on their print and audiovisual ads.

The service, launched by the Dubai Land Department (DLD), allows individuals and companies to verify the authenticity of real estate ads published in local newspapers, magazines, and online platforms. To use the service, users must provide the ad's details, including the property's location, size, and asking price, as well as the advertiser's contact information.

The DLD's verification process involves cross-checking the ad's information with its database of licensed real estate brokers and agents. If the ad matches the information in the DLD's records, the service will provide a verification report that confirms the ad's legitimacy. If not, the service will alert the user that the ad is not verified and may be fraudulent.

The new service is expected to benefit both investors and legitimate real estate agents by creating a more transparent and trustworthy marketplace. For investors, it provides peace of mind knowing that the properties advertised are legitimate and that the advertisers are licensed brokers or agents. For real estate agents, it offers a competitive advantage by distinguishing them from unlicensed and fraudulent agents.

Dubai has long been a popular destination for real estate investors, thanks to its favorable tax policies, strong infrastructure, and diverse economy. The emirate's real estate market has shown resilience and growth despite the challenges posed by the COVID-19 pandemic, with the total value of real estate transactions reaching AED 25.7 billion ($7 billion) in March 2021 alone.

However, the market has also attracted its fair share of fraudulent activities, with reports of fake ads and scams targeting unsuspecting investors. The DLD's new service is a welcome step towards curbing such activities and ensuring a fair and secure marketplace for all stakeholders.

 In addition to the new verification service, the DLD has implemented several other measures to enhance transparency and protect investors, including the requirement for all real estate advertisements to display the advertiser's license number and the establishment of a rental dispute settlement center.

 Overall, Dubai's real estate market continues to be an attractive destination for investors, and the DLD's latest initiative further strengthens its position as a transparent and secure investment hub.