Dubai, UAE,3 July 2019: Dubai Land Department (DLD) signed a memorandum of understanding
(MoU) with Tanami Properties (TP) through which DLD will support the Manzili
initiative launched by TP. The MoU aims to strengthen the strategic partnership
between the public and private sectors, achieving public interest to develop
Dubai’s real estate market.
HE Sultan Butti bin Mejren, Director
General of DLD, said: “This relationship is in line with our institutional
goals to provide a systematic approach to register lands and properties,
protect customer rights, and ensure all legal aspects related to land sales and
purchases. We hope that our partnership and cooperation with the private sector
will help us create an attractive global investment environment, achieve the
government’s strategic objectives for the real estate sector, encourage
investment in it by creating the right climate for real estate investors, and
enhance the contribution of the real estate sector to the overall development
of the Emirate.”
Under the MoU, the two parties agreed on
the importance of encouraging real estate investment. DLD showed a willingness to sponsor the Manzili initiative
to provide real estate opportunities for multinational people working in the UAE,
enabling them to purchase suitable homes to match their needs. This initiative is based on the fact that everyone can buy the
right home, enter into a payment plan to buy a home, or begin saving to buy a house.
Samer Ali Nasser
AlNaqbi, CEO of TP, commented: “In its efforts to encourage real estate investments
and to add further transparency to Dubai’s market, TP and DLD signed the Manzili
initiative, a contribution from DLD and TP during the Year of Tolerance that
aims to bring prominent players in the real estate sector to create valuable
opportunities for owning a house in Dubai. These opportunities
will be available to UAE residents working in both the public and private
sectors, regardless of their nationalities, religions, or ethnicities. The
initiative is based on the fact that
everyone, regardless of financial status, has a start point from which they can
kick-off a successful journey toward owning
a dream home or real estate investment in Dubai. To achieve that, leading real
estate companies will provide special offers with flexible payment plans and
supported by a saving scheme under this initiative. TP will facilitate this
process and act as a real estate investment consultant under this initiative.”
Under
the terms of the MoU, DLD will exclusively grant TP the title of Real Estate
Investment Advisor for a full year, and TP will hold workshops on the
initiative in the headquarters of institutions and companies operating in the UAE
as well as open registration centres in
the initiative. TP will also coordinate
with savings service providers, such as National Bonds, to provide appropriate
savings programmes as well as develop a real
estate investment calculator that provides
real estate offers suitable for each individual,
according to their preference and material capabilities.
TP
will also offer suggestions to launch the initiatives and policies necessary to
achieve DLD’s objectives, specifically
real estate promotion and investment in Dubai and specialised real estate consultancy for real estate developers,
brokers, investors, and others. Under the MoU, real estate seminars, workshops,
and conferences will be organised to
discuss issues related to the real estate market and propose appropriate
solutions. The MoU also contributes to enhancing the exchange of
knowledge, experience and
institutional
experience at all levels, and joint work to improve the performance of operations,
simplify procedures, and develop customer services. The parties will seek to
facilitate real estate transactions procedures, increase transparency, simplify
procedures, and reduce costs for DLD’s employees to make Dubai the first globally
in the ease and speed of completing real estate transactions.
-ENDS-
About Dubai
Land Department:
Dubai Land Department (DLD) was founded in January 1960
to establish the most prominent real estate sector in the Middle East and the
world. It provides outstanding and integrated services to all its customers
while developing the necessary legislation to propel the real estate sector in
Dubai through the regulation of the sector,
organising and promoting real estate investments, and spreading industry
knowledge in search of regional and worldwide real estate innovation.
DLD seeks regional and worldwide innovation in real
estate with the aid of its active sectors
that include real estate registration services, real estate investment
promotions, and corporate support, and with the aid
of its active organisations that include the Real Estate Regulatory Agency, the
Dubai Real Estate Institute, and the Rental Dispute Centre.
Unified Toll Free
Number:
In order for Dubai Land Department to provide the best possible service in a rapid manner and to ensure the comfort and
happiness of our customers, it has activated a new toll-free call centre number
[8004488]. This can be used for all Dubai Land Department and Rental Disputes
Centre enquiries