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The 69th edition of the International Real Estate Federation's FIABCI World Congress, which is taking place in Dubai under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has witnessed the Dubai Land Department (DLD) signing two memorandums of understanding with the Umm Al Quwain Municipality and the Department of Urban Planning and Municipalities in Abu Dhabi.
His Highness Sheikh Ali bin Saud Al Mualla, Chairman of Umm Al Quwain Municipality, expressed his pleasure in reaching an agreement with DLD and praised its role in enhancing joint cooperation, disseminating real estate expertise and knowledge, and driving smart transformation in Dubai's property sector, thereby supporting and endorsing Umm Al Quwain's smart systems.
His Highness confirmed: "The new agreement allows Umm Al Quwain to benefit from Dubai's registration systems and real estate regulations, accelerate and facilitate investor services, and support the pace of economic growth in the emirate. It will also allow us to protect and secure real estate rights by employing the best technology available in the market, most notably the Blockchain technology, to document real estate rights for investors in Umm Al Quwain."
His Excellency Sultan Butti bin Mejren, Director General of DLD, commented: "We are pleased to have reached these agreements with two important governmental entities in the UAE, as they open up new horizons for cooperation and the exchange of knowledge about real estate laws and regulations. We look forward to strengthening cooperation with these entities, especially in the areas of research and sharing expertise. Our three departments share many common goals and the agreements will contribute to developing our national real estate sector by expanding the scope for collaboration."
Engineer Jamal Al Hosani, Executive Director and Advisor to the Chairman's Office at the Department of Urban Planning and Municipalities in Abu Dhabi, said: "We believe that DLD is an ideal partner for us, especially in the light of the shared tasks, visions, strategies and national goals that unite us. We are confident that this agreement will be of great benefit to both parties, allowing us to seek mutual support and face future challenges together, including any that arise as a result of the evolving technological developments in the real estate sector."
The two agreements aim to align the registration processes and real estate regulations of DLD, Umm Al Quwain Municipality and the Department of Urban Planning and Municipalities in Abu Dhabi. Each party is keen to transfer knowledge and implement international expertise within the UAE. The two agreements are expected to further support and intensify joint development efforts, and facilitate the exchange of data and expertise, which will benefit the country's real estate sector.
His Excellency Sultan Butti bin Mejren, Director General of DLD, signed the Umm Al Quwain Municipality Agreement with Obaid Towarish, Acting Director-General of Umm Al Quwain Municipality, and the Department of Urban Planning and Municipalities in Abu Dhabi agreement with Engineer Jamal Al Hosani, Executive Director and Advisor to the Chairman's Office at the Department of Urban Planning and Municipalities in Abu Dhabi.
The FIABCI World Congress 2018 has attracted a number of sponsors from both the public and private sectors, including RTA as Support Partner, Dubai Tourism as Official Partner, and Dubai Properties as Strategic Partner. The event is also supported by Platinum Sponsors Jumeirah Golf Estates and Falcon City of Wonders, Gold Sponsors Dubai South and DAMAC, and Media Partner MBC Group.
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