Dubai Land Department (DLD) unveiled on Monday the successful conclusion of the second edition of the Dubai Property Festival, with signing of four strategic deals with local and international government entities, being a major highlight of the expo. These include a major agreement with Morocco's Ministry of Land Preparation, Reconstruction, Housing, and City Policy, an MoU with the Republic of Mauritius besides an agreement with the DIFC Courts and also with Dubai Television to promote the emirate's real estate market. The agreements were in recognition of its efforts to promote Dubai's real estate sector and provide ideal investment opportunities for those wishing to own free-hold properties, confirming Dubai's position as an ideal destination to live, work and invest, said a top official. “The signing of the four MoUs reflects the integration between multiple departments and official government entities in the Emirate in various fields as well as the exchange of experiences with international institutions,” remarked DLD Director-General Sultan Butti bin Mejren. “This comes as a result of the vast experience gained by DLD in the various processes and mechanisms of regulation and real estate registration, strengthening our leadership at the global level, and position Dubai as a destination of excellence and innovation,” he added. The deal with Mauritius was for exchange of expertise on smart cities, artificial intelligence, and e-governance as well as mutual promotion of properties in Dubai and Mauritius, in accordance with the best promotional standards. The MoU also provides for participation in seminars and real estate conferences organised by one of the parties in accordance to DLD's promotional plan, thus contributing to mutual benefit and broadening of the promotion, in order to achieve the best results, and benefit from DLD's experience in this field. The Morocco deal was aimed at developing activities of mutual interest in the real estate sector and encourage real estate investment in addition to enhancing the role of integrated urban development and confidence in the real estate sector through the development of smart services to create an innovative and sustainable global real estate environment. It also covers the promotion of the real estate market and real estate projects through organising exhibitions and participation in international and regional events. DLD's Real Estate Investment Management and Promotion Sector Majida Ali Rashid said: “This year's edition achieved the desired results. Having successfully attracted a large number of exhibitors and end users from Dubai, the UAE, and the region to benefit from offers provided by developers and exclusive deals at DPF.” “One of the most important features of the event was the provision of real estate investment opportunities from developers representing many countries, with the possibility of negotiating to learn about the features and details before making on- site deals,” she noted. The co-operation agreement with DIFC Courts is aimed at promoting cooperation and mutual promotion to ensure customer happiness and consolidate confidence in Dubai's real estate sector by providing a unique and balanced investment environment as well as joint work to improve the performance of operations and simplify procedures. On the Dubai TV deal, DLD said it was aimed at promoting the investment environment and highlighting the most important issues related to the real estate sector in order to raise the level of maturity and awareness of investors and stakeholders in the real estate market. It also informs them of their rights to establish transparent transactions, it added. Source: Trade Arabia
