JDR Group, which is engaged in the developing innovative technologies in the field of information about the processes in the real estate industry, took the initiative to create the first private comprehensive database of all real estate in the UAE available to all licensed brokers and brokerage agencies.
Unlike other countries such as the US, the UAE still has no Multiple real estate listing service (MSL) that would include accurate and consistent data on all units and transactions in the industry. JDR Group co-founder Alex Nicholas, notes, that UAE is in dire need of such a resource that would help to make the real estate market more transparent and secure, as required by the new development strategy, adopted by the UAE government.
JDR Group has more than ten years of experience in developing real estate online services in the UAE, having created such online databases as JustProperty and JustRentals, containing information about the property in Dubai, Abu Dhabi and other emirates. In addition, the company has developed PropSpace, a one of its kind software for brokers. Now, based on these products, the group plans to create something more advanced.
JDR Group now empowers more than 250,000 housing listings across the UAE, including information about apartments, villas, townhouses, hotel, retail and office real estate, i.e. about almost all major property projects in the UAE. And PropSpace has now more than 500 subscribers, including all the major brokerage agencies.
Nicholas emphasized the impact that PropSpace MLS portends for the region's real estate sector: "The launch of PropSpace MLS is a notable step in the evolution of this region's property market and substantially augments efforts by a range of regulatory bodies and stakeholders to ensure quality, growth and transparency."
The new system will also benefit ordinary property buyers and tenants, who will now be able to get accurate information about all objects of their interest from a single source, which eliminates the need to compare often conflicting data from different sites and ads.