A first-of-its-kind platform, Bidbayt, is set to revolutionize luxury property rentals in the UAE by introducing a bidding system where the highest bidder secures the lease.

Currently in its soft launch phase, the app already features properties worth over AED 100 million, with high demand in Palm Jumeirah, Jumeirah, and DIFC. The founders claim it can increase rental income by up to 20% and cut leasing time by 30% compared to traditional methods.

Backed by Dubai SME, Bidbayt has been recognized as one of the top 10 proptech companies by the Dubai Land Department. Landlords can list properties for free during the first three months, after which a nominal fee of AED 299 applies. A 0.5% commission is charged on final rental agreements, with winning bidders paying AED 100.

The platform aims to replace in-person auctions with seamless digital bidding, making luxury rentals more efficient and competitive.