DLD signs strategic MoU with UAEIIC

Dubai, United Arab Emirates, 20th January 2019:   Dubai Land Department (DLD) signed a memorandum of understanding (MoU) for strategic cooperation with the UAE International Investors Council (UAEIIC). The MoU was signed by HE Sultan Butti bin Mejren, Director General of DLD, and HE Jamal Saif Al Jarwan, Secretary-General of UAEIIC.

The MoU aims to share knowledge, experiences, and institutional expertise at all levels as well as exchange ideas, information, and studies related to both parties. The new MoU will help UAEIIC in implementing its vision and mission, extend bridges of cooperation, and open channels of communication with all bodies and departments, and with representatives of institutions inside and outside the UAE.

HE Sultan Butti bin Mejren, Director General of DLD, said: “The MoU aims to build effective cooperation between the two parties to achieve common strategic objectives. Both parties will analyse data and information provided by each as well as study its impact at the level of Dubai and Emirati investors abroad. We hope that it will also contribute to supporting initiatives that promote investments in the real estate sector.”

Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD, affirmed that the MoU supports the steps taken in real estate promotion, enhancing confidence in Dubai's real estate sector, and providing access to the real estate market and services offered by DLD.

Rashid added: “The MoU will be promoted among investors and joint meetings, seminars, and conferences will be organised that will welcome enterprises and commercial companies interested in investing abroad to introduce investment opportunities, regulatory laws, and accurate analysis of the market in the countries they want to invest in, thus achieving the government’s directives to expand and diversify the sources of the economy.”

HE Jamal Saif Al Jarwan, Secretary General of UAEIIC, commented: “UAEIIC was established in line with our efforts to promote policies of economic diversification in light of the country’s expansion and growth that is witnessed by the private sector as well as create a supportive environment to support national companies abroad.”

UAEIIC represents a link between investors wishing to see the qualitative opportunities available in the UAE’s brotherly and friendly countries, and between governmental and semi-governmental agencies involved in the process of the investment flow. At the same time, UAEIIC is a key pillar that contributes to the protection of UAE capital abroad as it provides advice, guidance, and logistical support.

Al Jarwan concluded: “During our visit and the series of meetings we previously held with DLD, we reviewed the work mechanism it adopts, and we made sure to provide a vivid and integrated picture of the opportunities and real estate options offered by Dubai’s real estate market to attract companies and investors within DLD’s framework, legal controls, and registration procedures.”

In addition to exchanging experiences, reviewing best practices, and providing advisory services on foreign markets related to DLD, workshops and joint events will also be held with DLD through real estate exhibitions and conferences.

Al Jarwan stressed that UAEIIC members represent strategic official and non-official parties including the Ministry of Economy, the Ministry of Foreign Affairs and International Cooperation, Ministry of Finance, General Authority of Civil Aviation, Mubadala Investment Company, Emirates Telecommunications Group (Etisalat), DP World, Emaar Properties, Borouge Private Company LTD (Bourouge), Dubai Holding, Dubai Investments Company, Majid Al Futtaim, Al Fahim Group, Thani Investment Group, Abu Dhabi Islamic Bank (ADIB), and Sharaf Group.

UAEIIC plays a vital role in promoting investment in various fields to improve the national economy by benefitting from international expertise and the scientific progress of some major countries in the development of national economy sectors. Al Jarwan affirmed the need to work hard to raise investment rates in some countries, overcome obstacles and challenges faced by investors, strengthen the economic interests of the UAE, and consolidate its position on the global investment map.