Dubai's Land Department and Masdar City enter agreement, granting autonomy to free zone businesses for property ownership within Dubai.
Dubai Land Department and Masdar City Partner to Boost Real Estate Investment
In a move to expand the investor base and enhance Dubai's real estate market, the Dubai Land Department (DLD) has entered into a partnership with Masdar City. This collaboration allows companies operating within Masdar City's free zones to own land and properties under Dubai's freehold ownership system [1][2][3].
This partnership is in line with the Dubai Real Estate Strategy 2033 and is part of broader efforts by DLD to diversify the investor base, stimulate sustainable growth, and boost the competitiveness of Dubai’s real estate sector. It facilitates a more open investment environment offering diverse ownership options, supporting free zone companies’ expansion plans by providing practical solutions for entering the real estate market under a clear and comprehensive regulatory framework [1][2][3][4][5].
Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, and Ahmed Baghoum, Chief Executive Officer of Masdar City, signed the Memorandum of Cooperation (MoC) during an official ceremony. The ceremony was attended by several directors from both sides [6].
Ahmed Baghoum expressed his confidence that this collaboration will strengthen the position of Dubai as a global hub for sustainable urban development. He added that this partnership will provide guidance and support to companies, fostering an environment that encourages ownership and investment [6].
Under the MoC, both the DLD and Masdar City will develop an integrated framework with clear eligibility criteria for establishments. The framework will include the legal and administrative procedures required to complete the registration process [5]. The aim is to simplify and expedite procedures, enable smooth data exchange, and implement an advanced digital system for online applications, request tracking, and document verification [1].
This agreement is part of the DLD's efforts to enhance the competitiveness of the emirate's real estate market. It also contributes to building a more integrated business environment across the UAE, aligning with the objectives of the Dubai Real Estate Strategy 2033 [3]. Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, explained that this collaborative model enhances integration across the UAE's real estate ecosystem and adds significant value to the Dubai Economic Agenda D33 by driving new investment flows that contribute to market growth and sustainability, in line with Dubai's vision of becoming the best city to live and work in [2][3].
[1] Dubai Land Department (2022). Press Release: DLD Partners with Masdar City to Boost Real Estate Investment
[2] Zawya (2022). Dubai Land Department partners with Masdar City to attract real estate investments
[3] Gulf News (2022). Dubai Land Department partners with Masdar City to boost real estate investment
[4] Khaleej Times (2022). Dubai Land Department partners with Masdar City to boost real estate investment
[5] WAM (2022). Dubai Land Department partners with Masdar City to boost real estate investment
[6] Emirates24|7 (2022). Dubai Land Department partners with Masdar City to boost real estate investment
- The collaboration between Dubai Land Department (DLD) and Masdar City signifies a collective endeavor to stimulate sustainable growth in Dubai's real estate sector, thereby enhancing its competitiveness.
- The partnership between the two entities aligns with Dubai's vision of becoming a global hub for sustainable urban development, fostering an environment that encourages ownership and investment.
- The agreement between DLD and Masdar City will allow companies within Masdar City's free zones to own land and properties under Dubai's freehold ownership system, thereby expanding the investor base.
- The integrated framework being developed by DLD and Masdar City under the Memorandum of Cooperation (MoC) aims to simplify procedures, enable smooth data exchange, and implement an advanced digital system for online applications, request tracking, and document verification, thereby fostering a more open investment environment.
- This partnership contributes to building a more integrated business environment across the UAE, driving new investment flows that are in line with the objectives of the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which focuses on making Dubai the best city to live and work in.
