Dubai Land Department (DLD) has officially launched a groundbreaking alliance aimed at elevating the emirate’s real estate sector through the Dubai Real Estate Promotion Strategy, aptly named ‘Real Estate i.’
This initiative marks a significant step towards reinforcing Dubai's stature as a global investment hub, as it seeks to enhance collaboration between the public and private sectors.
In a series of agreements signed with four prominent real estate developers, DLD is set to unveil innovative strategies designed to foster market dynamism and attract investment inflows.
Eng. Marwan Ahmed Bin Ghalita, the Director General of Dubai Land Department, highlighted the importance of this new alliance, stating that it aligns seamlessly with the Dubai Real Estate Strategy 2033.
The initiative embodies the vision of Dubai’s leadership, aiming to fortify the emirate’s position as a global leader in real estate investment. By enhancing investor confidence and market transparency, this collaboration is expected to invigorate the real estate sector while addressing the evolving needs of both local and international markets.
‘Real Estate i’
The alliance was formalised through the signing of memoranda of cooperation with key industry players: Danube Properties, Imtiaz Developments, MAG Lifestyle Development, and Fakhruddin Properties Development. Eng. Bin Ghalita, alongside prominent executives from these firms, underscored the collective commitment to innovation and excellence in Dubai’s real estate landscape.
This collaboration is set to unleash a plethora of opportunities within the sector. Eng. Bin Ghalita remarked, “The real estate sector is a fundamental pillar of Dubai’s sustainable development framework. Guided by the vision of our wise leadership, we continue to strengthen collaboration with our private sector partners, who have consistently demonstrated their commitment and readiness to create new investment opportunities.” This partnership serves as a robust platform for showcasing Dubai’s diverse real estate offerings, which span residential, commercial, and hospitality projects.
Enhancing global competitiveness
Majida Ali Rashid, CEO of the Real Estate Development Sector at Dubai Land Department, further elaborated on the impact of this collaboration, stating, “This initiative will enhance investment inflows into Dubai’s real estate market and boost its global competitiveness, fully aligning with the strategic vision of the Dubai Land Department.” She noted that this partnership is a vital component in driving Dubai's aspirations towards becoming a global leader in real estate investment.
Under the newly signed agreements, DLD will facilitate international events and exhibitions that promote Dubai's real estate market while providing extensive data and insights into investment opportunities. Rashid emphasised the importance of these efforts, stating, “We aim to drive Dubai’s journey toward a more prosperous future through strategic partnerships.” The initiative will also encompass promotional campaigns across various media channels, enhancing the visibility of Dubai’s real estate offerings on the world stage.
Transparency and incentives
In an effort to maintain the highest standards of market integrity, the memoranda stipulate that real estate developers will provide accurate and transparent information regarding registered projects. This includes essential details such as pricing, timelines, and financing options, ensuring that potential investors are well-informed. Moreover, exclusive incentives will be offered to international investors, including flexible payment plans and additional investment benefits, further solidifying Dubai's attractiveness as an investment destination.
Eng. Bin Ghalita concluded by reiterating the confidence that developers have in Dubai’s ambitious vision. This initiative is not merely about fostering investment; it is about creating a vibrant ecosystem where innovation thrives, and market dynamics are continuously invigorated.