The Dubai Land Department has signed a cooperation agreement with Masdar City, aiming to allow businesses and entities operating within the free zones of Masdar City to own land and properties under the freehold ownership system in Dubai, within a clear and comprehensive regulatory framework.
This initiative aligns with the Dubai Land Department’s efforts to enhance the competitiveness of the real estate market in the emirate and expand the investor base by creating new opportunities for free zone companies, in line with the goals of Dubai’s 2033 real estate strategy.
The memorandum was signed by Majid Al Marri, Executive Director of the Real Estate Registration Sector at the Dubai Land Department, and Ahmad Bacquhoun, CEO of Masdar City, at the Dubai Land Department headquarters, in the presence of various executives from both sides.
Majid Al Marri stated, “We are actively working to broaden access to the freehold property market in Dubai through collaboration models that enhance the integration of the real estate ecosystem at the national level. Empowering companies registered in free zones to own property in the emirate aligns with our objectives of fostering a more open investment environment and providing diverse ownership options. This move represents a significant addition that supports the objectives of Dubai’s economic agenda D33, focusing on diversifying the investor base and stimulating new investment flows that contribute to market growth and sustainability, in accordance with the vision of our leadership to make Dubai the best city for living and working globally.”
Ahmad Bacquhoun added, “This initiative reflects Masdar City’s strong commitment to support and empower businesses by providing them with innovative solutions to meet their growing needs. By facilitating the property registration processes for companies within the free zones of Masdar City, we aim to enable them to seamlessly expand their operations, contributing to sustainable growth in the UAE. This partnership highlights our shared vision with the Dubai Land Department to create a supportive and nurturing business environment, while we continue to establish Masdar City as a leading global destination for innovation and investment.”
Under the agreement, both parties will collaborate to develop a comprehensive system that includes: clear criteria for determining eligibility of enterprises, provision of the necessary legal and administrative procedures for registration processes, direct coordination between the Dubai Land Department and the Free Zones Authority to simplify and expedite procedures, ensuring smooth data exchange, and providing an advanced electronic system that enables digital applications, tracks requests, and verifies documents to enhance accuracy and transparency. Additionally, guidance and support will be offered to companies to understand legal and procedural requirements, fostering an encouraging environment for ownership and investment. The collaboration aims to support companies’ expansion plans and offer practical solutions to facilitate their entry into the Dubai real estate market, one of the most rapidly growing and prosperous markets in the region.