Dubai real estate market to keep on growing: AI unveils Dubai’s growth potential
22 May 2023, Zawya
Dubai, UAE – Renowned AI-based proptech firm, Realiste, releases comprehensive growth forecasts for Dubai’s real estate sector. Derived from their platform, Index, the data provides property appreciation and rental yield trends for the next five years, separated by neighborhood and real estate classes, including one-, two-, and three-bedroom houses.
The insights from Index reveal fascinating growth potential for Dubai, particularly in the real estate sector. The platform enables users to examine specific projects in detail, such as the Sobha Hartland project, with extensive information about location, bonuses, payment plans, and available apartments.
Forecasts for each apartment are detailed on the platform, taking into consideration upcoming local events, new infrastructure developments, and their impact on prices within a specific building or neighborhood. Notably, Index boasts a public track record of over 200 successful deals, promising a 99% success rate to its users.
“Index offers a 10-second apartment estimation feature,” explains Alex Galtsev, founder of Realiste. “Our AI collects comprehensive data about the apartment, including details of sold apartments and current listings, to provide an estimated value and long-term rent projection.”
The platform emphasizes transparency with every prediction or statistic it generates. Users can validate the data, understanding the AI’s reasoning behind the price predictions. The AI lays bare its workings, providing data on recent deals by DLD on similar properties, comparable rents, closed contracts, and sold apartments.
Furthermore, Index presents a visual representation of all apartments, illustrating DLD transactions among other variables on a graph. This visualization helps users understand the dynamic real estate market of Dubai with ease.
In terms of local amenities, Index’s AI goes a step further by considering the presence and future development of lagoons, lakes, and greenery in each neighborhood. Additionally, it depicts the development level in each area, providing investors with a comprehensive understanding of whether they are investing in a mature neighborhood or a burgeoning one.
The future looks bright for Realiste. Expansion plans are underway to launch Index in Abu Dhabi, Ras Al Khaimah, Sharjah, and other Emirates of the United Arab Emirates. There are also plans to introduce the system in various cities across Asia and Europe in the coming months.
About Realiste
Established in 2022 as the leading AI company in the UAE, Realiste provides data-driven insights and solutions to real estate investors. With the guarantee of making smart investment decisions, the company is committed to continuous innovation in the proptech space.
