One big "house" party: Dubai's online eMart attracting hundreds of new real estate firms
According to Sultan Butti Bin Mejren, director general of the Dubai Land Department, eMart, Dubai’s new portal for real estate transactions, which was launched in November, has already exceeded expectations, with over 29,000 visitors so far, with new visitors joining every day.
Bin Mejren said: “We are delighted to reveal that in just a few weeks, eMart has already attracted over 150 real estate firms, 230 investors and more than 1,300 property units with a combined value of Dh139 million.
“This shows the portal’s popularity as an all-in-one hub for lucrative property investments. Going forward, we fully expect eMart to achieve much greater success both quantitatively and qualitatively, as its reputation grows.”
The total value of property offered for direct sales exceeded Dh130 million. eMart also conducted its first e-auction, with transactions quickly passing the Dh75 million barrier.
Bin Mejren added: “Another pleasing aspect is that the visitors we are attracting to eMart represent a cross-section of various nationalities — over 20,000 Emiratis, more than 2,500 Americans, 700 Britons and 500 Saudis. There is also growing interest from buyers and sellers from India, Pakistan, Kuwait, Qatar, France, Germany, Russia, Canada and Japan, among many others.”
Another factor that has been cited for eMart’s popularity is the strong credibility and trust which it fosters through the Dubai Land Department, as well as the speed, convenience and security of the electronic transactions.