The Dubai Land Department (DLD) and Middle East real estate platform Cityscape have signed an agreement to further promote Dubai as an attractive real estate destination for both domestic and international players.
Announced on Monday, the memorandum of understanding was signed between the director general of the DLD, HE Sultan Butti Bin Mejren, and Tom Rhodes, exhibition director of Cityscape which is organised by Informa Middle East.
DLD, which provides realty services including documenting property sales, issuing real estate ownership, and promotes investment in Dubai property, said the agreement aims to “focus its efforts on promoting Dubai as an attractive regional and international investment destination, and strengthening its position as a prime investment hub".
The agreement will also highlight the scope of real estate investment opportunities and showcase major projects to regional and international investors across all markets in the Cityscape portfolio, DLD noted, added it would also see the Government department partner with various events within Informa’s expanding portfolio.
Speaking on the move, HE Sultan Butti Bin Mejren, said: “Dubai ranked highest on the list of global cities that are most attractive for foreign direct investment. As a result, Dubai has rapidly evolved into a global business and investment hub, and DLD looks forward to strengthening our Emirate's position and achieving consistent success in the industry, ensuring the sustainable growth of our real estate sector.”
Rhodes added: “"Dubai is truly an important hub for investors from all over the world thanks to its buoyant economy, advanced infrastructure, high ROIs, transparent investor environment, and the legal and legislative structure that guarantees the rights of all parties.”
“Regional and international investors are looking to invest in cities with these unique ingredients, and the ability to adapt to the demands of global markets and investors' expectations makes Dubai a shining example”
The move came less than two months after head of DLD, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved a new organisational structure for the department. This revamp revolved around three areas – Corporate Support, Real Estate Registration Services, and Real Estate Investment Promotion.