Dubai's Land Department and Masdar City have agreed to enable free zone companies to individually own real estate within Dubai.
In a significant move to bolster investment in Dubai's real estate market, the Dubai Land Department (DLD) and Masdar City have signed a Memorandum of Cooperation (MoC). This agreement paves the way for companies operating in Masdar City's free zones to own land plots and properties under Dubai's freehold ownership system[1][2][3][4].
The collaboration aims to create a clear and comprehensive regulatory framework, enabling free zone companies to confidently invest in Dubai’s real estate market, including freehold properties[1][4]. Key details of the cooperation include:
- Ownership rights: Free zone companies based in Masdar City can now purchase and own freehold properties in Dubai without needing to change their legal form[4].
- Operational flexibility: Companies can invest in offices, logistics centers, housing, or other property types, enhancing business stability and capital growth[4].
- Streamlined processes: Introduction of web-based verification and approvals by DLD and simplification of legal procedures to facilitate ownership[4].
- Strategic alignment: The initiative supports Dubai’s broader goals under the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, aiming to diversify the investor base, stimulate sustainable investment flows, and enhance the emirate’s real estate market competitiveness[1][2][3][4].
The MoC was signed by Majid Al Marri, CEO of Real Estate Registration Sector at DLD, and Ahmed Baghoum, CEO of Masdar City, in Dubai, in the presence of senior officials from both entities[1][3]. This agreement marks a significant shift by expanding freehold property ownership opportunities beyond individual investors to include free zone companies, thereby fostering greater integration within the UAE’s business ecosystem and boosting Dubai’s attractiveness for investment[3][4].
Both parties will develop an integrated framework with clear eligibility criteria for establishments. The regulatory procedures required to complete the registration process will be included in the framework[4]. Furthermore, the partnership will provide guidance and support to companies to understand legal and procedural requirements[4].
This cooperation underscores DLD's commitment to adopting open policies that enhance market flexibility and support national efforts to attract high-quality investments[4]. By simplifying and expediting procedures for companies, this step is part of DLD's efforts to enhance the competitiveness of the emirate's real estate market[4].
In summary, the cooperation enables Masdar City-based free zone companies to directly acquire freehold land and properties within Dubai, facilitated by a regulatory framework designed for ease, legal clarity, and strategic investment growth aligned with Dubai's long-term real estate and economic goals[1][2][3][4]. This move supports companies' expansion plans by providing practical solutions for entering Dubai's real estate market.
- The collaboration between the Dubai Land Department (DLD) and Masdar City offers a regulatory framework, enabling free zone companies in Masdar City to confidently invest in Dubai’s real estate market, including purchasing and owning freehold properties.
- This MoC between DLD and Masdar City aims to diversify the investor base, stimulate sustainable investment flows, and enhance Dubai’s real estate market competitiveness, in line with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33.
- By signing the Memorandum of Cooperation, free zone companies based in Masdar City can now purchase and own freehold properties in Dubai without needing to change their legal form, enhancing operational flexibility and business stability.
- The partnership will develop an integrated framework with clear eligibility criteria for establishments, providing guidance and support to companies to understand legal and procedural requirements, and streamlining processes through web-based verification and approvals.
- This significant move by DLD supports national efforts to attract high-quality investments and adopts open policies that enhance market flexibility, making it easier for companies to invest in Dubai’s real estate market, foster greater integration within the UAE’s business ecosystem, and bolster Dubai’s attractiveness for investment.
