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DUBAI / WAM
Dubai Land Department (DLD) has confirmed that it successfully conducted 8,173 real estate valuations worth over AED287 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.â€
Property valuation complements many other activities, and helps gauge the growth of investments.