Dubai Land Department signs 9 MoUs in Cityscape Global 2019

Dubai Land Department (DLD) continues to showcase its presence through its stand at Cityscape Global 2019, currently being hosted by Dubai. Besides its remarkable activity in welcoming visitors as well as local and foreign delegations, especially investors wishing to familiarise themselves with the investment horizon in the Emirate, DLD, through its different sectors and departments, signed nine agreements and memoranda of understanding with a number of entities from the UAE and around the world.

The MoUs covered the following: The Promotion and Real Estate Investment Management Sector at DLD signed an MoU with Amaco Media Group in the KSA. The MoU was signed by  Sultan Butti bin Mejren, Director General of DLD, and Faisal Al Othman, Managing Director of Amaco Media Group. Through the MoU, both parties look forward to working together to promote the real estate market, organise and hold a real estate exhibition in the KSA, and assist in opening new investment and financing channels in the real estate market under DLD’s umbrella by supporting the strategic partners and their stakeholders. The Promotion and Real Estate Investment Management Sector is responsible for the follow-up, coordination, organisation, and supervision.

DLD signed an MoU with Crayon, a globally leading company in machine-learning technology. The MoU was signed by bin Mejren and Alain Ziad Rizk, CEO of Crayon Middle East. The MoU aims to promote cooperation between the parties in the field of artificial intelligence-based consulting services, digital transformation, and cloud services for DLD to achieve a globally leading position and introduce a new smart valuation system using artificial intelligence characterised by high speed, super ease, and precision.

The Registration and Real Estate Services sector at DLD signed an MoU with Emirates Islamic Bank. The MoU was signed by bin Mejren and Salah Mohammed Amin, CEO of EIB. The agreement aims to structure and develop the parties’ relationship and promote their common interests to achieve integration and promote close cooperation and coordination between them to achieve the vision and strategy of the Dubai Government and the public interest. Among the other objectives that the parties seek to achieve is the e-mortgage registration services, which include registering mortgage contracts, and modifying the mortgage, and its termination.

DLD, through its Registration and Real Estate Services sector, signed an MoU with the Commercial Bank of Dubai as part of the e-mortgage system. The MoU was signed by bin Mejren. The MoU aims to structure and develop the parties’ relationship and promote their common interests to achieve integration as well as promote close cooperation and coordination between them to achieve the vision and strategy of the Dubai Government and the public interest. It also aims to reduce customer visits and the procedures to one step through a single window in the bank without the need to visit DLD. After making the mortgage, the bank requests approval from DLD by accessing its electronic system, through which DLD will then audit and approve the procedure.

DREI signed an MoU with the University of Manchester Middle East Centre. The MoU was signed by Hend Al Marri, CEO of DREI, and Randa Bessiso, Director of the centre, with the aim of promoting higher and specialised education, research, projects, and professional services, and to strengthen the relationship and cooperation between specialists in the Middle East. This will be achieved through the launch of a cooperation programme and framework.

DLD, through its Promotion and Real Estate Investment Management Sector, signed an MoU with Mashreq Bank. The MoU was signed by bin Mejren and Ahmed Abdelaal, Head of Corporate and Investment Banking Group, and aims to enhance confidence in the Dubai real estate sector by providing a unique investment environment and defining the frameworks of cooperation in the field of financing projects and initiatives in the real estate sector under DLD’s umbrella to support the real estate market, observe best practices and standards, and provide banking solutions for financing in accordance with the agreement.

The Registration and Real Estate Services sector at DLD signed an MoU with Coldwell Banker Richard Ellis. The MoU was signed by Majid Al Marri, CEO of the Registration and Real Estate Services sector at DLD, and Nicholas Maclean, Managing Director of CBRE MENAT. The agreement aims to encourage market transparency through the development of a number of tailored reports and studies that will boost knowledge of the Emirate’s real estate sector at a local, regional, and global level. It also aims to provide research consultancy on the real estate market to provide evolving market trends and opportunities to support DLD’s strategic vision.

Dubai Real Estate Institute signed an MoU with BSA Ahmad Bin Hezeem & Associates, which was signed by Hend Al Marri and Dr Ahmad Bin Hezeem, Senior Partner at BSA. The agreement aims to strengthen DREI’s mission to educate Emiratis interested in the real estate sector, spread awareness among them and empower them, and support Emirati youth’s career through workshops and training programmes that will prepare them to become future leaders.

WAM