Dubai Land Department (DLD) concluded its participation in the Cityscape Global 2021 with a number of new initiatives and diverse and innovative services provided.
Over the three days of the Exhibition, DLD showcased its most prominent services, launched the locally first-of-its-kind commercial property price index (CPPI), presented the building classification survey project and provided a wide range of proactive services and solutions to serve customers in the real estate sector.
On the third and final day, and based on DLD's continued efforts to promote the emirate's real estate market, DLD signed two new memoranda of understanding for the real estate promotion trustee and renewed four others in the presence of His Excellency Sultan Butti bin Mejren, Director General of DLD, and a number of officials at DLD.
At the GCC level, DLD signed the regionally first-of-its-kind MoU with Saudi Amaco Real Estate Establishment and another MoU with Russian 'IMEX Real Estate Broker.' On the other hand, DLD renewed the MoUs with 4 other real estate promotion trustee offices.
The real estate promotion trustee initiative is one of the real estate promotion tools that enhance the emirate's attractiveness to foreign investors. These agreements will allow the aforementioned promotion trustee offices to spread real estate knowledge about Dubai's real estate sector in global markets through various digital and non-digital means. They also allow for DLD's organisation and participation in local and global real estate conferences, exhibitions and workshops as well as visits for investors to Dubai in order to view investment opportunities, provide full support to investors and provide them with sufficient information and support.
Bin Mejren commented: “The MoUs signed during Cityscape affirm DLD's role in strengthening its promotional efforts for Dubai's real estate market. Certainly, the agreements will be of great benefit in terms of introducing our real estate market, and attracting more investors due to the expertise, knowledge, and advisory roles of the trustees.”
Oleg Lavrik, CEO of IMEX Real Estate and Vice-President of the Russian Business Council in Dubai, who signed the MoU ith DLD on behalf of IMEX Real Estate has highly appreciated this opportunity to strengthen business ties between the UAE and Russian federation, saying: “More than 15 years of tight cooperation and communication with Dubai Land Department confirmed that Dubai’s real estate market is of special interest among Russian-speaking potential investors and buyers. During this period we jointly accomplished a great amount of work in promoting Dubai’s real estate sector in Russian Federation. But, moreover, we plan to further consolidate our efforts in building and spreading big new promotion campaigns in order to attract new investors to Dubai”.
Majida Ali Rashid, CEO, Real Estate Promotion and Investment Management at DLD, said: “The MoUs signed with the specialised and experienced promotion trustees help in accessing various global markets, encourage foreign investors of various nationalities to enter Dubai's real estate market, and introduce them to the various benefits the emirate provides to foreign investors and the environment and the solid and flexible infrastructure.”
She also added: "The markets included in the new and existing MoUs, such as Russia, are very important to Dubai, as investors in these countries topped the list of real estate investors investing in Dubai. Therefore, enhancing our access to them would create additional momentum and attract new investors. We will cooperate with our partners, including IMEX Real Estate Brokerage, to further affirm our commitment to our values of transparency and professionalism, enhancing Dubai’s global reputation as a distinguished investment destination, and thus consolidate investor confidence in Dubai.”