Dubai Land Dept values properties worth $78bn in 2017

Dubai Land Department (DLD) has confirmed that it successfully conducted 8,173 real estate valuations worth over Dh287 billion ($78.1 billion) — the highest value ever recorded — in 2017. According to a report issued by Taqyeem, Dubai’s Real Estate Appraisal Centre, valuations are done for a variety of reasons such as investor visas, gifted transfer, auction sales, zakat calculations, sale estimates, and company annual audits. Customers include private owners, developers and government entities. Sultan Butti bin Mejren, director general of DLD, said: “Taqyeem relies on the data and information available in DLD’s records, and operates according to advanced standards for valuation. The center’s valuation work is undertaken with meticulous attention to accuracy, transparency, and professionalism, which reflects DLD’s outstanding performance in providing customer services.”