The Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, announced today that DIFC Authority has signed a Technical cooperation agreement with the Dubai Land Department (DLD).
According to the agreement, DIFC’s real estate registrar will start utilising DLD’s electronic system in the process of registering and authorising the formation, transfer, amendment or elimination of rights pertaining to property in the Centre’s jurisdiction. Dubai Land Department will provide counsel regarding the regulation of owners’ associations for jointly-owned property as well as surveying and issuing field maps for real estate and property units within the Centre.
Abdulla Mohammed Al Awar, CEO, DIFC Authority, said:
“This agreement supports our efforts to enhance the level of service we offer to investors within the Centre and it allows us to benefit from DLD’s world-class systems and expertise in real estate regulation.”