Dubai signs 4 MoUs to promote property market

Dubai Land Department  said on Saturday it has signed four memorandum of understandings (MoUs) with local and international government entities at Dubai Property Festival (DPF) to promote real estate sector.

In a statement, DLD said the new deals will help provide ideal investment opportunities to those investors who wish to own free-hold properties in Dubai to live, work and invest.

“The signing of the four MoUs reflects the integration between multiple departments and official government entities in the emirate in various fields as well as the exchange of experiences with international institutions. This comes as a result of the vast experience gained by DLD in the various processes and mechanisms of regulation and real estate registration, strengthening our leadership at the global level, and position Dubai as a destination of excellence and innovation,” said Sultan Butti bin Mejren, director-general of DLD.

Majida Ali Rashid, CEO of DLD’s Real Estate Investment Management and Promotion Sector, said this year’s edition achieved the desired results.

“One of the most important features of the event was the provision of real estate investment opportunities from developers representing many countries, with the possibility of negotiating to learn about the features and details before making on- site deals,” she said.

DLD and the DIFC Courts signed a cooperation agreement. Sultan Butti bin Mejren and Justice Omar Juma Mohammad Al Fujair Al Muhairi, Deputy Chief Justice of the DIFC Courts, signed the agreement to focus on exchanging knowledge, experiences at all levels, exchanging ideas, studies, and researches related to the parties’ competence and field of work as well as continuous coordination.

DLD signed an agreement with Dubai Television to promote Dubai’s real estate market. Sultan Butti bin Mejren and Ahmed Saeed Al Mansouri, CEO of TV and Radio sector of Dubai Media Incorporated at DMI, signed the agreement.

Under the agreement, Dubai TV will produce a special TV programme in 2019 consisting of 17 episodes, which will be presented weekly, including four episodes during the holy month of Ramadan through Ramadan councils, and 13 episodes during the last quarter of 2019, which will include topics to be agreed between the two parties.

Third MoU was signed between Dubai and the Republic of Mauritius to exchange expertise on smart cities, artificial intelligence, and e-governance as well as mutual promotion of properties in Dubai and Mauritius, in accordance with the best promotional standards in order to serve and ensure customers happiness.

The fourth MoU was signed with Morocco’s Ministry of Land Preparation, Reconstruction, Housing, and City Policy, which aims to develop activities of mutual interest in the real estate sector and encourage real estate investment.

Source: Khaleej Times