- DLD signs four MoUs with local and international government entities on the sidelines of the festival
Dubai, United Arab Emirates, 30 March 2019: Dubai Land Department (DLD) announced the successful conclusion of the second edition of the Dubai Property Festival (DPF), which took place at the Dubai World Trade Centre 26 — 28 March, through which it signed four memorandum of understandings (MoUs) with local and international government entities in recognition of its efforts to promote Dubai’s real estate sector and provide ideal investment opportunities for those wishing to own free-hold properties, confirming Dubai's position as an ideal destination to live, work and invest.
HE Sultan Butti bin Mejren, Director General of DLD, praised the tremendous results achieved in this second edition of DPF, and the efforts made by all parties. Upon signing the four agreements, Bin Mejren added: “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.
Majida Ali Rashid, CEO of DLD's Real Estate Investment Management and Promotion Sector commented: 'This year's edition achieved the desired results. Having successfully attracted a large number of exhibitors and end users from Dubai, the UAE, and the region to benefit from offers provided by developers and exclusive deals at DPF. 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.
In light of its accumulated success, this specialised festival established its leading position by introducing real estate units for international and local developers whether residential, commercial, or multipurpose, allowing visitors to make direct contracts, in addition to exclusive discount prices, reasonable initial payments, low interest rates from financiers, and free real estate insurance.
Four Memorandum of Understanding (MoU)
During the last day of the Dubai Property Festival, DLD and the DIFC Courts signed a cooperation agreement. The agreement was signed by HE Sultan Butti bin Mejren, Director General of DLD and HE Justice Omar Juma Mohammad Al Fujair Al Muhairi, Deputy Chief Justice of the DIFC Courts; in the presence of HE Justice Ali Al Madhani; Nassir Al Nasser; Ahmed Al Kamali of the DIFC Courts; and Majida Ali Rashid, CEO of Real Estate Investment Management and Promotion Sector at DLD.
The agreement aims to promote cooperation and mutual promotion to ensure customer happiness and consolidate confidence in Dubai’s real estate sector by providing a unique and balanced investment environment as well as joint work to improve the performance of operations and simplify procedures, developing and improving customer service and maintaining communication between the two parties to achieve common interests in Dubai.
DLD and the DIFC Courts will 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, benefiting from their acquired experience and in organising joint meetings, seminars, and conferences. The DIFC Courts will work to ensure that its public service offerings, through the Wills Service Centre, can complement and reinforce the overall service with the DLD to property purchasers.
DLD signed an agreement with Dubai Television to promote Dubai’s real estate market. The agreement was signed by HE Sultan Butti bin Mejren, Director General of DLD, and Ahmed Saeed Al Mansouri, CEO of TV & Radio sector of Dubai Media Incorporated at DMI.
The agreement aims to promote the investment environment and highlight the most important issues related to the real estate sector in order to raise the level of maturity and awareness of investors and stakeholders in the real estate market, and inform them of their rights to establish transparent transactions.
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
The signing ceremony was attended by a delegation from Florida who was attracted by the Real Estate Promotion Trustee and represents prominent real estate individuals who expressed great interest in the event and its activities to see the investment opportunities provided by DPF.
An 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 MoU also provides for participation in seminars and real estate conferences organized by one of the parties in accordance to DLD’s promotional plan, thus contributing to mutual benefit and broadening of the promotion, in order to achieve the best results, and to benefit from DLD’s experience in this field.
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, In addition to enhancing the role of integrated urban development and confidence in the real estate sector through the development of smart services to create an innovative and sustainable global real estate environment, as well as promote the real estate market and real estate projects through organising exhibitions and participation in international and regional events.
DPF was launched for the first time by DLD in collaboration with the International Property Show (IPS) in April 2018. It hosted a full range of activities to share knowledge, establish relationships, and real estate transactions to provide opportunities for buyers and sellers to interact and explore investment opportunities available in the real estate sector.