(MENAFN- Emirates News Agency (WAM))
DUBAI, 17th September, 2018 (WAM) -- The Dubai Land Department, DLD, and the Dubai Creative Clusters Authority, DCCA, signed two Memoranda of Understanding, MoUs, in line with the interests of the two parties to structure and develop their relationship.
The first MoU covers the integration of electronic systems and the exchange of both information and technical expertise, while the second revolves around the registration of freehold land or properties by free zone companies. Through the two agreements, DLD and DCCA will enhance their common interests of achieving complementarity, cooperation and close coordination between them in line with Dubai's vision and strategy.
Commenting on the signing, Sultan Butti bin Mejren, Director-General of DLD, said, "We are keen to expand our partnerships with various institutions and departments in Dubai in order to jointly achieve outstanding governmental performance and raise the Emirate's level of competitiveness. Our cooperation with DCCA will help us provide easy services to our customers through consistent coordination, especially as DCCA has the power to approve general plans, construction site plans, building permits, and commercial licences. The MoU allows the parties to exchange information and data to facilitate procedures for the auditors, enabling the development and strengthening of databases for both, the DLD and DCCA."
"Our cooperation with DCCA will contribute to the regulation and control of land and real estate registration procedures by free zone companies and the transfer of partners' shares. There will be specific mechanisms for the coordination and active participation between the parties for their benefit, as well as the application of transactions with full transparency, contributing to the stability of Dubai's real estate market, and enhancing its position as a preferred investment destination," he added.
Al Habbai said, "Signing the two MoUs with the DLD is an important strategic step to achieving best practices in the joint government work which aims to simplify procedures for our customers, and reaffirms our full commitment to enhancing Dubai's reputation as a leading city in fostering creativity. This is done by facilitating business practices and removing growth barriers, making Dubai the preferred regional and international destination for emerging and leading companies."
"DCCA continues to implement its operational plans as part of its strategy which is in line with Dubai's future vision to meet the needs of a growing market through the optimal recruitment possibilities, with the aim of improving the services provided to customers, and of increasing Dubai's competitiveness based on the culture of innovation, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai," Al Habbai added.
The second MoU, which focuses on the registration of freehold lands or properties under the names of free zone companies, includes nine articles that deal with the commitment of both parties to achieve the objectives of the MoU, in addition to the coordination, follow-up, and exchange of information.
The two parties agreed on the mechanisms through which they will implement their obligations and cases prior to the effective date of the MoUs in order to ensure optimal application. They also agreed to find and develop appropriate electronic solutions to facilitate the implementation of the provisions stated in the MoU.
The DLD will also coordinate with the DCCA and request any information or data relating to a free zone company looking to register its real estate transaction. The DCCA will then provide the DLD with the required data within an agreed period of time from the date of receiving the application.
WAM/Esraa Ismail/Nour Salman
MENAFN1709201800610000ID1097444730
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