UAE portal launches first off-plan property sales platform

Lookup.ae plans to offer Emaar, Damac, DPG homes which are currently under construction
UAE portal launches first off-plan property sales platform
By Staff writer
Mon 17 Aug 2015 02:17 PM

Lookup.ae, a real estate information portal in the UAE, has formally launched its first property search service which gives potential buyers access to off-plan properties.

The Off-Plan Properties Search allows buyers from all over the world to find under-construction properties for sale in Dubai directly from the developer or from the secondary market that are on a payment-plan.

This service is in beta and will initially offer off-plan properties for sale in about 40 developments across Dubai including projects by developers like Emaar, Damac and Dubai Properties.

"The Dubai market has witnessed about 120 new project launches in the last 24 months," said Eric Hodges, head of research at Lookup.ae.

"All the data out there indicates that after appreciating an average of between 35-45 percent since 2012, the market for ready properties has cooled. However, the off-plan property market has become particularly attractive with a large number of developers offering exceptionally well-priced properties and terrific payment-plans.

"There are many opportunities to buy off-plan, but no dedicated way to search through them and find the best option possible in an easy and clear manner."

"Our Off-Plan Search Tool is built from scratch, using our own dedicated CRM so that we could create a better experience for the user. What this basically means is that users can clearly view and filter their search based on the down-payment they are ready to pay, the location they prefer or by year of completion," added Munawar Ali, Lookup.ae's chief technology officer.

"Each listing clearly displays important information such as the exact payment-plan, closing procedures, track record of the developer and our own unique tagging system. All listings link back to our information database so our users can research potential investment opportunities like never before."

Lookup.ae was launched in mid-2014, is free to use and reports on more than 800 freehold projects in Dubai.

For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.