A partnership between the lands of Dubai and the city of Masdar to own free zones companies real estate in the emirate
Dubai, July 24 / WAM / The Dubai Land and Property Department signed a memorandum of cooperation with the Masdar City of Services aimed at enabling companies and establishments operating in the free zones of the Masdar City of land and real estate ownership in the Emirate of Dubai according to the free ownership system in a manner consistent with a clear and integrated regulatory framework.
This step comes within the efforts of Dubai lands to enhance the competitiveness of the real estate market and expand the base of investors by providing new opportunities for free zones companies, in order to support the targets of Dubai Real Estate Sector Strategy 2033.
The memorandum was signed at the Dubai Land headquarters in the presence of a number of officials from both sides, as it was signed by Majid Al -Marri, Executive Director of the Real Estate Registration Sector in the district, and Ahmed Baqoum, CEO of the city of Masdar.
Majid Al -Marri stressed that this partnership contributes to building a more open investment environment by enabling companies registered in the free zones to own in Dubai and provide cooperation models that enhance the integration of the real estate system, noting that the step supports the Dubai Economic Agency by stimulating new investment flows and diversifying the investor base in a way that enhances the market growth and sustainability.
For his part, Ahmed Baqoum explained that the agreement embodies the commitment of the city of Masdar to enable companies through innovative solutions that contribute to expanding its operations and supporting the business environment and investment in the country, stressing that this partnership reflects a common vision to provide an attractive and stable business environment.
According to the agreement, the two parties will cooperate to develop an integrated system to facilitate the registration of ownership that includes identifying the eligibility of the establishments, simplifying the procedures and accelerating them through electronic linking and providing counseling and facilities for companies wishing to own ownership.
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