By Staff Reporter
Dubai Land Department and Ajman Free Zones Authority Partners to Simplify Real Estate Ownership for Businesses
In a move set to enhance the UAE’s business environment, the Dubai Land Department (DLD) and the Ajman Free Zones Authority (AFZA) have signed a significant Memorandum of Cooperation (MoC).
This agreement aims to simplify the process for AFZA-registered companies to secure freehold ownership of land and property, ensuring a seamless integration of real estate assets into their corporate frameworks.
The MoC was signed in Dubai by Marwan bin Ghalita, Director-General of DLD, and Ismail Al Naqi, Director-General of AFZA, with senior representatives from both entities in attendance. The agreement establishes a clear legal and regulatory framework, streamlining registration procedures while ensuring transparency and adherence to legal protocols.
Both parties have emphasized that the partnership will not only enhance the appeal of Dubai and Ajman as investment destinations but also elevate their competitive edge in the real estate market. The initiative is expected to foster growth, increase foreign investment, and improve overall market transparency.
Marwan bin Ghalita noted,
“This partnership represents a commitment to advancing the real estate sector, stimulating investment, and nurturing a resilient commercial sphere that aligns with Dubai’s future vision.”
Ismail Al Naqi echoed this sentiment, stating,
“This collaboration is a major step towards enabling businesses to grow efficiently and confidently within a well-integrated system that safeguards investor interests.”
This agreement aligns with the UAE’s strategic goals of economic advancement and attracting foreign investment, reinforcing the country’s position as a leading global hub for business and investment.
News Source: Emirates News Agency
