Dubai Land Department and Masdar City join forces to enable free zone property ownership, expanding investment opportunities within Dubai by signing a pivotal memorandum.

The Dubai Land Department has officially partnered with Masdar City to allow companies and establishments operating in free zones to own land plots and properties through a freehold ownership system in Dubai. This landmark agreement introduces a regulatory framework tailored for this unique ownership model.

As part of a strategic initiative, this partnership aims to boost the competitiveness of Dubai's real estate market by attracting a broader investor base. It aligns seamlessly with the ambitious objectives set out in the Dubai Real Estate Strategy 2033, which underscores the emirate's unwavering commitment to real estate development.

Expanding Freehold Ownership in Dubai

The memorandum was ceremoniously signed by Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, and Ahmed Baghoum, Chief Executive Officer of Masdar City, amidst a gathering of directors from both organizations in Dubai.

In light of the agreement, Al Marri expressed the department's dedication to expanding access to Dubai's freehold market, emphasizing collaborative models that enhance real estate ecosystem integration across the UAE. He noted that enabling free zone companies to own properties is pivotal to cultivating an open investment environment with diverse ownership options.

This collaboration not only complements the Economic Agenda D33 but also aims to diversify the investor pool, thus stimulating investment flows that bolster market growth and sustainability. Al Marri further affirmed the leadership's vision of making Dubai a premier global city to live and work.

Baghoum accentuated Masdar City’s pledge to empower businesses with innovative, solution-oriented approaches tailored to their needs. By simplifying property registration in the free zones, Masdar City fosters seamless business expansions, contributing significantly to the UAE's long-term economic prosperity.

The partnership, built on shared visionary principles, reinforces both entities' resolve to create a business-friendly environment, underscoring Masdar City’s role as a beacon of innovation and investment.

Under the terms agreed upon, both parties will develop comprehensive guidelines encompassing eligibility criteria alongside the requisite legal and administrative processes for property registration completion. This cooperation ensures a streamlined and efficient liaison between the Dubai Land Department and the Free Zone Authority.

The alliance notably enables data exchange and integrates a digital platform facilitating online applications, request monitoring, and document verification to maximize accuracy and transparency.

Guidance and support will be provided to companies, assisting them in navigating the legal and procedural landscapes to foster a nurturing environment conducive to ownership and investment. The partnership seeks to support corporate expansion plans by offering strategic solutions that broaden their participation in the emirate’s real estate sector.

Finally, this collaboration is a testament to the Dubai Land Department’s commitment to policy innovation enhancing market flexibility, reinforcing efforts to attract investments, and shaping a robust business environment across the UAE.