House-hunters in the Capital are finally getting much-needed relief from misleading property adverts. It is because the Abu Dhabi Real Estate Centre (ADREC) has launched the Madhmoun initiative. Moreover, this system has successfully removed almost 90 per cent of unverified listings from top websites, like Bayut, Property Finder, etc.
Buyers and renters faced frustration for many years as many online listings turned out to be fake, duplicates, or already sold. Now, only verified properties with government-issued permits are allowed online due to Madhmoun.
Lee Bekker, broker at Crompton Partners, said, “We are very thankful for this system as it has reduced many fake listings. Now, you get what you see.”
How Madhmoun Initiative Works
It is the first government-backed multiple listing service in the region. Now, every property must get the permit via the DARI platform, which requires the consent from property owners. Moreover, anyone can list each unit with a maximum of three brokers. So, it will remove fake and duplicate ads. However, the following are the fees for this permit:
- Rental permits: Dh50 – Dh115 plus VAT (1–3 months)
- Sales permits: Dh125 – Dh250 plus VAT
- Off-plan permits: Dh25,000 per project per broker (3 months)
Before implementation, there were 75000 listings on portals. Now, those numbers have been reduced to 20000 verified units.
Boosting Market Transparency
Industry leaders say the step is restoring trust and credibility. Therefore, a real estate investor said, “It is now easier to search for property, and no agent can use the misleading approach”. Similarly, Cherif Sleiman, Property Finder’s CRO, said, “eliminating duplicates increases the bar for quality. Now, renters and buyers have a reliable and clear experience”.
In contrast, some brokers argue that permit fees add to the financial burden and require disclosure of private details. Still, most of them agree that the system creates a cleaner and safer environment.
Extended to ADGM
The system was also extended to the Abu Dhabi Global Market (ADGM) via access to the RP platform. So, this step has further strengthened the advertising standards across the capital. Moreover, Managing Partner of Crompton Partners, Ben Crompton, “ADREC has attacked this problem with speed and tenacity. This is only the beginning of Abu Dhabi to become one of the best-regulated markets in the GCC.”
Abu Dhabi is setting a new milestone in real estate clarity with Madhmoun. So, it is making the property searches more reliable for buyers. In addition, it boosts trust in one of the most dynamic markets in the GCC.
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