Abu Dhabi launches 'Madhmoun' for property listings, transactions

Dubai: Abu Dhabi's property market is getting its first 'multiple listing service' platform for transactions, offering verified listings and real-time updates about the units.

The 'Madhmoun' platform also enables authentic advertising to ensure that 'all transactions are based on valid and reliable information'. In fact, a clear goal for the portal is to eliminate misleading info when it comes to how properties are marketed in the emirate.

The new portal comes from Abu Dhabi Real Estate Centre (ADREC), which sees Madhmoun as a 'unified one-stop solution for all real estate practitioners'.

According to Rashed Al Omaira, acting Director-General of ADREC, "Madhmoun, we believe, will transform how real estate transactions are conducted in Abu Dhabi."

One major target from the new platform is to 'reduce the fragmentation' of property listings. This 'will result in more visibility for sellers', ADREC states.

"It does this by increasing the visibility of properties by an average of 70% and ensuring the database contains the most current information on the properties available in a given area or market," it added.

Real estate brokers also stand to benefit from the platform, with ADREC saying it will raise broker productivity by 35%.

"This further cuts down the transaction time by 40%, which, in return, improves the customer experience and international investment," said the statement.

Incidentally, ADREC had launched a Rental Index for the Abu Dhabi market in August last year.

What does Madhmoun do?

* Every property in Abu Dhabi listed on Madhmoun is verified to ensure accuracy and reliability.

* Users will have access to the updated property data, which allows for informed decision-making.

* Madhmoun eliminates 'misleading property advertisements, providing users with honest and transparent listings'.

* Madhmoun 'connects Abu Dhabi’s real estate market with international investors'.