(MENAFN- Dubai PR Network) Dubai, United Arab Emirates, 18 October 2024: Dubai Land Department (DLD) has signed a Memorandum of Cooperation with Dubai Holding, granting the entity the authority to utilise the DLD's registration systems for the purpose of recording all Real estate transactions related to developers and investors. This partnership is set to enhance the value of sector data, reducing time and effort, and enhancing customer satisfaction and happiness.
This event took place during Dubai Land Department's participation in GITEX Global 2024, where the agreement was signed by Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, and Nasser Al Awadhi, Chief Land Estates Officer, Dubai Holding.
Majid Al Marri said: 'Enhancing access to real estate sector data enables us to provide more efficient and accurate services, while increasing the value of information available to stakeholders. This contributes to supporting data-driven decision-making and improving the level of market transparency, thereby reinforcing Dubai's position as a leading global real estate destination.'
He added: 'Through this agreement with Dubai Holding, we continue our efforts to maintain the rights of investors and real estate developers, streamline and expedite procedures in line with transparent governance, and enhance trust in the sector. By strengthening our partnership with the private sector, which is a key contributor to Dubai's unprecedented and sustainable real estate growth, we aim to drive further progress.'
Nasser Al Awadhi said: 'At Dubai Holding, we are committed to developing the real estate sector by improving the quality of services, upskilling the workforce through training opportunities and by providing the best possible governance. Our Memorandum of Cooperation with Dubai Land Department represents an important step towards this goal. This initiative will help to support the ever-growing demand in Dubai's real estate market and enhance the efficiency and transparency of Dubai Holding's operations. We look forward to contributing to strengthening Dubai's position as a sector leader and to positively impact the economy of Dubai as a whole.'
Dubai Land Department reaffirms its commitment to empowering the private sector to carry out related services in accordance with the technical requirements for using the specified systems. DLD shall also provide necessary training and technical support to operate the system, while ensuring the quality of transactions registered by companies and assessing their accuracy.
Through this initiative, Dubai Land Department enhances the ability of real estate companies to meet the growing demand for properties, which, in turn, supports economic growth and boosts investments in the market, benefiting the local economy as a whole. The department will also be able to improve monitoring and regulation of the market by more effectively tracking transactions, in line with the emirate's vision and efforts to be one of the world's leading cities in real estate management and development.
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