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DUBAI/WAM
Dubai Land Department (DLD) and Ajman Free Zones Authority (AFZA) have signed a joint memorandum of cooperation to simplify pathways for companies registered in AFZA to secure freehold ownership of land and property, streamlining the registration process. The partnership supports efforts to enhance synergy across government bodies.
The agreement was signed by Marwan bin Ghalita, Director-General of the Dubai Land Department, and Ismail Al Naqi, Director-General of the Ajman Free Zones Authority in Dubai, and was attended by senior representatives from both entities.
The memorandum aims to establish a clear legal and regulatory framework to enable AFZA-registered companies to seamlessly integrate real estate assets under their corporate umbrellas, streamlining procedures within established frameworks. This initiative is projected to amplify transparency and catalyse investment, underpinned by steadfast adherence to legal and administrative protocols.
The collaborative framework is poised to elevate the investment appeal and competitive edge of both Dubai and Ajman as premier destinations within the real estate landscape.
Marwan bin Ghalita commented, “Driven by a commitment to the real estate market’s evolution, we consistently initiate strategic advancements that stimulate investment and nurture a resilient, attractive commercial sphere. This memorandum charts a course for amplified collaboration with AFZA, a synergy that will empower our mission to cultivate the property market and establish an enticing investment ecosystem aligned with Dubai’s forward-looking vision.”
Ismail Al Naqi said, “AFZA remains committed to pioneering inventive solutions that streamline investor journeys and contribute to elevating the UAE’s investment appeal. This partnership with DLD represents a significant leap forward in enabling businesses to confidently and efficiently grow their real estate investments within an integrated system that safeguards investor interests and provides a vibrant business environment.”
This agreement mirrors the UAE’s foundational strategic tenets of accelerating economic advancement, attracting foreign investment inflows, and bolstering integrated governmental action. This alliance will enable more efficient real estate registration procedures and cultivate greater regulatory adaptability, ultimately fortifying the UAE’s position as a distinguished global hub for business and investment.