Dubai, UAE, 11 November 2021: Dubai Land Department (DLD) concluded its participation in the Cityscape Global 2021 that witnessed a large turnout and varied participation over three days from 9 – 11 November at the Dubai Exhibition Centre (Expo 2020 Dubai site), during which DLD launched a number of its initiatives and highlighted its diverse and innovative services.
Over the three days, DLD showcased its innovative application Dubai REST and the most prominent services available on it, such as the Ask Maik service and DLD Document Vault, among others. DUring the first day, DLD launched the locally first-of-its-kind commercial property price index (CPPI) to help investors, companies and institutions monitor the performance of the commercial market when making investment decisions and managing portfolios. On the second day, the building classification survey project was launched, covering 150,000 land plots of various categories, and provided a wide range of proactive services and solutions to serve customers in the real estate sector.
On the third and final day, and based on DLD's continued efforts to promote the emirate's real estate market, DLD signed two new memoranda of understanding for the real estate promotion trustee and renewed four others in the presence of His Excellency Sultan Butti bin Mejren, Director General of DLD, and a number of officials at DLD.
At the GCC level, DLD signed the regionally first-of-its-kind MoU with Saudi Amaco Real Estate Establishment and another MoU with Russian 'IMEX Real Estate Broker.' On the other hand, DLD renewed the MoUs with 4 other real estate promotion trustee offices, namely: US-based Century 21 Front Desk Real Estate, Medallion Associates Real Esatate Promotion Trustee LLC, Canadian Dubai Link Real Estate Promotion Trustee DMCC, and Indian Q4 Consultants FZ LLC.
The real estate promotion trustee initiative is one of the real estate promotion tools that enhance the emirate's attractiveness to foreign investors. These agreements will allow the aforementioned promotion trustee offices to spread real estate knowledge about Dubai's real estate sector in global markets through various digital and non-digital means. They also allow for DLD's organisation and participation in local and global real estate conferences, exhibitions and workshops as well as visits for investors to Dubai in order to view investment opportunities, provide full support to investors and provide them with sufficient information and support.
Bin Mejren commented: “At the conclusion of this great event, we renew our commitment to the tireless and continuous work to cement Dubai's global position in the real estate markets in line with the directives of our wise leadership, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. We are pleased that Cityscape Global, which has become a unique platform that brings together the various developers, investors and those interested in the real estate market in our city, presented all these great outcomes, and we look forward to our permanent contribution with our various partners to enhance the real estate investment horizon in the future.”
Bin Mejren added: “The MoUs signed during Cityscape affirm DLD's role in strengthening its promotional efforts for Dubai's real estate market. Certainly, the agreements will be of great benefit in terms of introducing our real estate market, and attracting more investors due to the expertise, knowledge, and advisory roles of the trustees.”
Majida Ali Rashid, CEO, Real Estate Promotion and Investment Management at DLD, said: “DLD is working to enhance its access to various global markets as part of its efforts to achieve the vision of the wise leadership to position Dubai as the world's premier real estate destination, and a byword for innovation, trust, and happiness. The MoUs signed with the specialised and experienced promotion trustees help in accessing various global markets, encourage foreign investors of various nationalities to enter Dubai's real estate market, and introduce them to the various benefits the emirate provides to foreign investors and the environment and the solid and flexible infrastructure.”
Rashid added: "The markets included in the new and existing MoUs are very important to Dubai, as investors in these countries topped the list of real estate investors investing in Dubai. Therefore, enhancing our access to them would create additional momentum and attract new investors. We will cooperate with our partners to further affirm our commitment to our values of transparency and professionalism, enhancing integration with the private sector, and concluding agreements that will enhance Dubai’s global reputation as a distinguished investment destination, and thus consolidate investor confidence in Dubai.”