Dubai – Mubasher: Dubai International Financial Centre (DIFC) has signed a memorandum of understanding (MoU) with the Dubai Land Department (DLD) to allow the centre-based entities to purchase and register properties with the DLD, according to a statement.
The MoU will stimulate growth and investment activity in Dubai’s real estate sector, DIFC governor Essa Kazim said.
The strategic agreement will facilitate the landowner registration process with DLD for DIFC-based companies, partnerships, foundations, real estate investment trusts (REITs), and real estate funds.
Dubai’s economy saw approximately 20,000 real estate transactions worth AED 77 billion recorded in the first quarter of 2017, a 45% increase compared to the first quarter of 2016.
